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2012 (7) TMI 435 - AT - Income TaxCalculation of interest on refund claim - application for rectification disposed off by stating that there is no mistake apparent from record - Held that:- AO has not made any speaking order instead has followed Supreme Court verdict in the case of CIT v. Amalgamation (1997 (7) TMI 15 (SC))which is based upon section 214 and has calculated the interest up to completion of original asset which is not correct as w.e.f. 1.4.1989 the refund has to be paid in accordance with section 244A, thus keeping in view these provisions for assessment years 1993-94 & 1994-95, the assessee was entitled for interest on refund amount due to TDS from 1.4.1993 and 1.4.1994 respectively to date of grant of refund and in the case of tax paid after assessment from the date of payment of such tax to the date of grant of refund - remit the case back to the file of the AO with the direction to re - calculate the interest - in fvavour of assessee as directed.
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