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2015 (2) TMI 152 - AT - Income TaxInterest on refunds - Method of computation of interest u/s 244A - CIT(A) upheld the method adopted by the AO by reducing the total refund granted (including the interest under section 244A already granted) from the tax refund due to the appellant and computing interest on the remaining amount - Held that:- CIT(A) has not gone into the question of correctness of method adopted by the AO but decided the issue on the ground that the method adopted by the AO is being consistently followed in respect of the assessee. Therefore, the impugned order of the CIT(A) qua this issue is not sustainable in law and liable to be set aside as interest determined by the AO is lower than the amount the assessee is entitled for. We accordingly restore the matter to the AO with a direction to calculate interest due to the assessee without reducing the interest u/s 244A, which is part of the refund earlier granted from the refund due. - Decided in favour of assessee for statistical purposes.
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