2013 (3) TMI 662

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....o simple interest whereas the direction given by the CIT(A) is contrary to the provision. 2. On the facts and in the circumstances of the case and in law, the Ld.CIT(A) erred in directing the AO to deduct only the tax element from the refund generated earlier excluding the interest portion contrary to the intention of the legislation. This would lead to excess grant of interest to the tune of R....

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....e AO to deduct only tax element from the refund generated earlier excluding the interest portion which lead to excess grant of interest to the tune of Rs. 1,92,42,460/-. On the other hand, the Ld.AR has relied on the order of the Ld.CIT(A). 5. We have heard both the parties and perused the material on record. It is pertinent to mention that ground no 1 is vague and also the DR has been unabl....