Interest on Refund u/s 244A(1) is Taxable When Granted, Even if Adjusted Against Prior Tax Liabilities.

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....Taxability of Interest on refund u/s 244A(1) - interest on refund whenever it is granted, it is assessable in that year itself and if it is adjusted with any prior tax liability of earlier years and such interest is in turn paid to the Government Account that also is payment of interest to the assessee, in such case, there is no need for any intimation separately. - AT....