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2019 (4) TMI 1650 - AT - Income TaxInterest on refund so quantified u/s 244A - Assessee entitled for interest u/s 244A on the refund payable to the assessee arising out of self assessment tax paid in excess than the tax due by the assessee - HELD THAT:- Thus, as we have seen in preceding para’s of this order that the issue is highly contentious . Presently, it is not brought to our notice by both the rival parties any judgment of Hon’ble Supreme Court directly on this issue. We are bound by decision of Hon’ble Bombay High Court being jurisdictional High Court and Respectfully following the decision of Hon’ble Bombay High Court in the case of Stock Holding Corporation Limited [2014 (11) TMI 899 - BOMBAY HIGH COURT] we hold that the assessee will be entitled for interest on refund arising out of excess self assessment tax in accordance with and as provided vide clause(b) to sub-section(1) to Section 244A of the 1961 Act as it was then prevailing for the impugned assessment year. We uphold/sustain decision of learned CIT(A). Revenue fails in this appeal.
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