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TMI Blog2013 (3) TMI 662X X X X Extracts X X X X X X X X Extracts X X X X ..... ssed by the Ld.CIT(A) directing the AO to exclude the interest element of refund earlier granted as the provisions of the I.T Act do not permit to include ‘interest’ within ‘refund’ in the given situation while deducting the amount of refund issued earlier, and therefore ground no 2 is hereby dismissed. - ITA No.: 6863/Mum/2011 - - - Dated:- 6-3-2013 - <!--[if gte mso 9]> < ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... <![endif]--><!--[if gte mso 10]> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and in the circumstances of the case and in law, the Ld.CIT(A) failed to appreciate that as per the provision of section 244A, the assessee will be entitled to 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 re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ued earlier. Aggrieved by the impugned order, the Revenue is in appeal before us. 4. Before us, the Ld.DR has stated that the Ld.CIT(A) ought not to have directed the 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 ₹ 1,92,42,460/-. On the other hand, the Ld.AR has relied on the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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