https://www.taxtmi.com/caselaws?id=192808 The Tribunal concluded that both parties' methods for adjusting refunds were inconsistent with Section 244A. It proposed a proportionate method where refunds comprise both tax and interest in the same ratio as their total amounts. The decision directed payments to be first adjusted against interest due, then against tax, with refunds including both tax and interest calculated proportionately. Additionally, refunds for interest due to tax defaults should carry compensatory interest under Section 244A. The decision partially favored both parties, pronounced on January 31, 2017, in Chennai. en-us Tue, 31 Jan 2017 00:00:00 +0530 Thu, 22 Jun 2017 09:20:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192808 The Tribunal concluded that both parties' methods for adjusting refunds were inconsistent with Section 244A. It proposed a proportionate method where refunds comprise both tax and interest in the same ratio as their total amounts. The decision directed payments to be first adjusted against interest due, then against tax, with refunds including both tax and interest calculated proportionately. Additionally, refunds for interest due to tax defaults should carry compensatory interest under Section 244A. The decision partially favored both parties, pronounced on January 31, 2017, in Chennai. Case-Laws Income Tax Tue, 31 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192808