The Appellate Tribunal addressed the issue of refund of excess...

The Appellate Tribunal addressed the issue of refund of excess taxes claimed by the Assessee due to a difference in the amount of TDS and Advance Tax as computed by the Department compared to what was reflected in Form 26AS. The Tribunal held that u/s 240(b) of the Act, the Assessee was eligible for the refund. The assessment showed a shortfall in the refund payable to the Assessee, as the correct amount was higher than what was initially refunded. The Assessee had already paid the excess amount through Advance tax and TDS, as evidenced by Form 26AS. The Tribunal directed the revenue authorities to refund the due amount to the Assessee, along with applicable interest u/s 244A of the Income Tax Act, 1961. The appeal of the Assessee was allowed.