Adjustment of refunds granted for computing of interest u/s 244A ...

Interest on Unpaid Tax Refunds Must Reflect Accurate Calculations; Tribunal Orders Reassessment of Interest.

November 5, 2023

Case Laws Income Tax AT

Adjustment of refunds granted for computing of interest u/s 244A - the manner in which the assessing officer has adjusted the refund is not correct and that the assessee would be entitled for interest on the unpaid refunds in accordance with the principle laid out in the aforesaid decision of Tribunal. AO is directed to compute interest under section 244A as per the claim of the assessee after giving a proper opportunity of being heard. - AT

View Source

← Previous Next →

Adjustment of refunds granted for computing of interest u/s 244A ...

Interest on Unpaid Tax Refunds Must Reflect Accurate Calculations; Tribunal Orders Reassessment of Interest.

November 5, 2023

Case Laws Income Tax AT

You may also like:

Interest u/s. 244A - interest on unpaid interest - refund awarded in the rectification order u/s. 154 - The appellant contested the decision of the Commissioner of...

Interest on refunds u/s 244A - unpaid portion representing tax as well as interest - The assessee is entitled for interest on unpaid interest.

Interest on delayed Refund of excess Customs Duty paid - Evidently, the Learned Commissioner has taken the date of receipt of Final Order of the Tribunal as the relevant...

Calculation of interest u/s 244A - when a refund of tax has to be reduced by refund already granted it is only the tax element which has to be adjusted and not the...

Calculation of interest u/s 244A - when a refund of tax has to be reduced by refund already granted it is only the tax element which has to be adjusted and not the...

Entitlement of Interest on delayed refund - relevant date for calculation of time - In the present case, refund arises only after passing of order-in-appeal by the...

Interest on Delayed Refund of Input Tax Credit - Proviso to Section 56 specified increased interest rates for refunds arising from orders of adjudicating or appellate...

Interest liability - seeking waiver of interest since the payment of service tax was paid under the amnesty scheme - The tribunal observed that the appellant's payment...

The Appellate Tribunal addressed the issue of refund of excess taxes claimed by the Assessee due to a difference in the amount of TDS and Advance Tax as computed by the...

Petitioner's claim for interest on refund of deposit made under protest from date of deposit rejected. HC held interest payable u/s 11BB of Central Excise Act from date...

The case involved a claim for refund of interest u/s 72 of Finance Act, 2010 to benefit from a retrospective amendment to Rule 6 of CCR, 2002/2004. The Tribunal held...

CESTAT determined appellant's entitlement to 12% per annum interest on refund amounts deposited during investigation, overruling Commissioner (Appeals) order of 6%. The...

The assessee claimed additional interest u/s 244A(1A) for the delayed refund. The AO incorrectly adjusted the refund against the tax component instead of first adjusting...

Interest u/s.244A - The shortfall, if any, of the refund amount with reference to the amount so computed, would have to be apportioned between the principal (tax) and...

Refund claim of service tax paid on cancelled transactions - Post GST era - Rejection of refund under Rule 6(3) of Service Tax Rules read with Sec 142(5) of CGST Act -...

Quick Updates: