https://www.taxtmi.com/caselaws?id=449779 The Bombay HC ruled in favor of the appellant regarding interest under Section 244A(1)(a) on tax refunds. The ITAT had incorrectly denied interest by artificially splitting the refund amount into components like TDS and advance tax, arguing the refund was less than 10% of assessed tax. The HC held that "amount of refund" must be given its natural meaning as the whole refund amount, not an artificial split into various tax components. The court emphasized that regardless of how "regular assessment" is interpreted, the proviso would not apply when considering the total refund amount. The appellant was granted entitlement to interest under Section 244A. en-us Fri, 09 Feb 2024 00:00:00 +0530 Wed, 28 Aug 2024 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449779 The Bombay HC ruled in favor of the appellant regarding interest under Section 244A(1)(a) on tax refunds. The ITAT had incorrectly denied interest by artificially splitting the refund amount into components like TDS and advance tax, arguing the refund was less than 10% of assessed tax. The HC held that "amount of refund" must be given its natural meaning as the whole refund amount, not an artificial split into various tax components. The court emphasized that regardless of how "regular assessment" is interpreted, the proviso would not apply when considering the total refund amount. The appellant was granted entitlement to interest under Section 244A. Case-Laws Income Tax Fri, 09 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449779