https://www.taxtmi.com/caselaws?id=758611 ITAT Ahmedabad held that assessee was entitled to additional interest under section 244A(1A) for delayed refund from 01.06.2016 to 05.07.2017. Tribunal directed AO to re-compute interest by first adjusting refund against interest component, then against tax component, following principles of equity and fairness applied in tax collection. Relying on Tata Sons Pvt. Ltd. and Nirma Ltd. precedents, tribunal emphasized consistent treatment requiring same adjustment principles for refunds as for tax payments. Appeal partly allowed with directions for re-computation. en-us Wed, 28 Aug 2024 00:00:00 +0530 Tue, 17 Sep 2024 08:37:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758611 ITAT Ahmedabad held that assessee was entitled to additional interest under section 244A(1A) for delayed refund from 01.06.2016 to 05.07.2017. Tribunal directed AO to re-compute interest by first adjusting refund against interest component, then against tax component, following principles of equity and fairness applied in tax collection. Relying on Tata Sons Pvt. Ltd. and Nirma Ltd. precedents, tribunal emphasized consistent treatment requiring same adjustment principles for refunds as for tax payments. Appeal partly allowed with directions for re-computation. Case-Laws Income Tax Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758611