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TMI Blog2022 (6) TMI 836X X X X Extracts X X X X X X X X Extracts X X X X ..... , Mumbai, inter-alia, for the assessment years under consideration. 2. Since all these appeals pertain to the same assessee involving common grounds on identical facts and circumstances, therefore, as a matter of convenience these appeals were heard together and are being adjudicated by way of this consolidated order. 3. The Revenue, in the present appeals for all the years under consideration, has raised following common grounds:- "1. Whether On the facts and in the circumstances of the case and in law, the learned CIT(A) erred in holding that the refunds granted should first be adjusted towards the interest components and the balance, if any towards tax components of the refund, without appreciating that such a methodology results int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmon impugned order directed the Assessing Officer to re-compute the interest granted under section 244A of the Act by first adjusting the refund already granted to the assessee against the interest component and the balance, if any, towards the tax component of the refund due. Being aggrieved with this direction, the Revenue is in appeals before us. 6. During the course of hearing, learned Departmental Representative submitted that the directions of the learned CIT(A) vide common impugned order, results in awarding interest on interest which is contrary to the decision of Hon'ble Supreme Court in CIT v/s Gujarat Fluoro Chemicals, [2014] 358 ITR 291 (SC). Learned Departmental Representative further submitted that the refund already gra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omponent of the refund due. We find that the Co-ordinate Bench of Tribunal in Union Bank of India v/s ACIT, [2017] 162 ITD 142 (Mum.), after considering the decision of the Hon'ble Supreme Court in Gujarat Fluoro Chemicals (supra), observed as under:- "3.8 Thus, from the perusal of the above, it is clear that where the amount of tax demanded is paid by the assessee then it shall first be adjusted towards interest payable and balance if any whatever tax payable. Now, if we go through section 244A, we find that no specific provision has been brought on the statute with respect to adjustment of refund issued earlier for computing the amount of interest payable by the revenue to the assessee on the amount of refund due to the assessee. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 21] 23 taxmann.com 31 (Mum.), following the aforesaid decision in Union Bank of India (supra), observed as under:- "6. We find that assessee has raised ground before us stating that refund granted to the assessee is to be first adjusted against the correct amount of interest due on that date and thereafter, the left over portion should be adjusted with the balance tax. We find that in the instant case refund was granted to the assessee vide refund order in October 2013 and it was pleaded by the assessee that the said refund is to be adjusted against the correct amount of interest payable thereof to be computed as per the directions of the ld. CIT(A) and only the balance amount is to be adjusted against tax paid. Accordingly, unpaid amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hortfall of tax and that shortfall should then be considered for the purpose of computing further interest payable to the assessee u/s. 244A of the Act till the date of grant of such refund. Accordingly, the grounds raised by the assessee in this regard are allowed for both the years." 10. As the issue arising in the present appeals is already settled in favour of the assessee by the aforesaid decisions, respectfully following the aforesaid judicial precedents, we find no infirmity in the directions issued by the learned CIT(A). Accordingly, grounds raised by the Revenue, which are common in all the years under consideration, are dismissed. 11. In the result, appeals by the Revenue, for the years under consideration, are dismissed. Order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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