https://www.taxtmi.com/caselaws?id=447191 ITAT Mumbai held that AO incorrectly adjusted refunds when calculating interest under section 244A. The tribunal ruled that refund amounts should first be adjusted towards interest component, with any balance towards tax component. AO was directed to recalculate interest up to actual receipt date and compute additional interest under section 244A(1A) from June 1, 2016 onwards, following precedents from Pfizer Limited and K.E.C International cases. en-us Wed, 06 Dec 2023 00:00:00 +0530 Tue, 19 Dec 2023 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447191 ITAT Mumbai held that AO incorrectly adjusted refunds when calculating interest under section 244A. The tribunal ruled that refund amounts should first be adjusted towards interest component, with any balance towards tax component. AO was directed to recalculate interest up to actual receipt date and compute additional interest under section 244A(1A) from June 1, 2016 onwards, following precedents from Pfizer Limited and K.E.C International cases. Case-Laws Income Tax Wed, 06 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447191