https://www.taxtmi.com/caselaws?id=445302 ITAT Mumbai held that AO incorrectly calculated interest under section 244A by artificially splitting refund into interest and tax components before adjustment. The tribunal ruled that refund amount should first be adjusted against interest component, with any balance adjusted against tax component. AO was directed to recompute interest under section 244A according to assessee's claim after providing proper hearing opportunity. The artificial splitting method resulted in reduced interest payment to assessee. en-us Mon, 30 Oct 2023 00:00:00 +0530 Sat, 04 Nov 2023 09:16:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445302 ITAT Mumbai held that AO incorrectly calculated interest under section 244A by artificially splitting refund into interest and tax components before adjustment. The tribunal ruled that refund amount should first be adjusted against interest component, with any balance adjusted against tax component. AO was directed to recompute interest under section 244A according to assessee's claim after providing proper hearing opportunity. The artificial splitting method resulted in reduced interest payment to assessee. Case-Laws Income Tax Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445302