https://www.taxtmi.com/caselaws?id=427027 The Tribunal partially allowed the appeal for statistical purposes, directing the Assessing Officer to recalculate the interest amount, including interest on the shortfall amount not received by the appellant. The Tribunal emphasized the appellant's entitlement to interest on the withheld refund amount, distinguishing between delayed refund compensation and interest on interest. The decision referenced the Supreme Court's ruling in Sandvik Asia Ltd. vs. CIT and instructed the AO to grant interest on interest under section 244A(1A) for the eligible shortfall amount, based on the provisions of the Income Tax Act, 1961. en-us Tue, 19 Jul 2022 00:00:00 +0530 Wed, 31 Aug 2022 07:02:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427027 The Tribunal partially allowed the appeal for statistical purposes, directing the Assessing Officer to recalculate the interest amount, including interest on the shortfall amount not received by the appellant. The Tribunal emphasized the appellant's entitlement to interest on the withheld refund amount, distinguishing between delayed refund compensation and interest on interest. The decision referenced the Supreme Court's ruling in Sandvik Asia Ltd. vs. CIT and instructed the AO to grant interest on interest under section 244A(1A) for the eligible shortfall amount, based on the provisions of the Income Tax Act, 1961. Case-Laws Income Tax Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427027