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2023 (4) TMI 89 - AT - Income TaxClaiming interest u/s 244A on the excess tax deposited by the assessee under self-assessment in the impugned assessment year - AO withdrawing the benefit of interest u/s 244A allowed to the assessee u/s 154 - Scope of amended provisions of section 244A inter alia inserting clause (aa) - HELD THAT:- Amendment by the Finance Act, 2016 was effective from 01/06/2016. In the instant case, the assessment order u/s 143(3) of the Act was passed on 10/03/2015 and the rectification order u/s 154 of the Act granting interest u/s 244A of the Act was passed on 12/05/2015, that is much prior to the amendment. Hence, the amended provisions would have no application. From the reading of the provisions of section 244A as were applicable to the AY under appeal it is unambiguous that minimum limit of 10% of refund would not be applicable on payment of interest on refund. Thus, in facts of the case, the relevant provisions of section 244A of the Act as were applicable to the assessee we find that the AO has erred in withdrawing the benefit of interest u/s 244A allowed to the assessee vide order u/s 154 of the Act. The impugned order is set aside and appeal of the assessee is allowed.
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