https://www.taxtmi.com/caselaws?id=774606 ITAT Ahmedabad dismissed assessee's rectification application u/s 154 seeking deletion of interest income addition. The assessee received interest u/s 244A on income tax refund which was adjusted against outstanding demands for earlier years but failed to disclose this in return for AY 2015-16. ITAT held interest on tax refund is taxable as "income from other sources" and belongs to assessee, not government. Adjustment against outstanding demands doesn't excuse non-disclosure. The issue required application of mind and wasn't a mistake apparent from record warranting rectification. Appeal dismissed. en-us Wed, 09 Jul 2025 00:00:00 +0530 Fri, 11 Jul 2025 08:39:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774606 ITAT Ahmedabad dismissed assessee's rectification application u/s 154 seeking deletion of interest income addition. The assessee received interest u/s 244A on income tax refund which was adjusted against outstanding demands for earlier years but failed to disclose this in return for AY 2015-16. ITAT held interest on tax refund is taxable as "income from other sources" and belongs to assessee, not government. Adjustment against outstanding demands doesn't excuse non-disclosure. The issue required application of mind and wasn't a mistake apparent from record warranting rectification. Appeal dismissed. Case-Laws Income Tax Wed, 09 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774606