https://www.taxtmi.com/caselaws?id=772857 ITAT Mumbai held that the AO incorrectly calculated interest under Section 244A while passing the order giving effect. The tribunal ruled that interest calculation should first adjust refund amounts against interest component, with any balance adjusted against tax component. The AO was directed to verify the assessee's computation chart and recalculate interest under Section 244A and additional interest under Section 244A(1A) in accordance with law. The assessee's grounds were allowed for statistical purposes. en-us Fri, 23 May 2025 00:00:00 +0530 Sat, 14 Jun 2025 06:47:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772857 ITAT Mumbai held that the AO incorrectly calculated interest under Section 244A while passing the order giving effect. The tribunal ruled that interest calculation should first adjust refund amounts against interest component, with any balance adjusted against tax component. The AO was directed to verify the assessee's computation chart and recalculate interest under Section 244A and additional interest under Section 244A(1A) in accordance with law. The assessee's grounds were allowed for statistical purposes. Case-Laws Income Tax Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772857