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Non-granting interest u/s 244A on excess self-assessment tax from January 2017 to October 2017 was denied, citing the refund was less than 10% of the tax determined in regular assessment u/s 143(3). The assessee argued the self-assessment tax, adjusted against the demand raised in assessment, lost its character. The Tribunal agreed with the assessee's contention, referring to the decision in AWP Assistance (I) Pvt. Ltd. Once adjusted against the tax liability determined in regular assessment, the self-assessment tax no longer retained its character under sub-clause (aa) of Section 244A(1). After adjustment, the refund fell under sub-clause (b) of Section 244A(1), not hit by the proviso denying interest where refund is below 10%. Consequently, the assessee is entitled to interest on the refund of self-assessment tax for January 2017 to October 2017.
Non-granting interest u/s 244A on excess self-assessment tax from January 2017 to October 2017 was denied, citing the refund was less than 10% of the tax determined in regular assessment u/s 143(3). The assessee argued the self-assessment tax, adjusted against the demand raised in assessment, lost its character. The Tribunal agreed with the assessee's contention, referring to the decision in AWP Assistance (I) Pvt. Ltd. Once adjusted against the tax liability determined in regular assessment, the self-assessment tax no longer retained its character under sub-clause (aa) of Section 244A(1). After adjustment, the refund fell under sub-clause (b) of Section 244A(1), not hit by the proviso denying interest where refund is below 10%. Consequently, the assessee is entitled to interest on the refund of self-assessment tax for January 2017 to October 2017.
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