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2019 (6) TMI 1213 - AT - Income TaxInterest u/s 244A on self assessment tax payment - AO has not granted interest on self-assessment tax paid in the order passed u/s 154 - HELD THAT:- Tribunal in assessee’s own case [2018 (9) TMI 1844 - ITAT KOLKATA] a decision-maker who is authorized to decide ex aequo et bono is not bound by legal rules but may take account of what is just and fair. Thus, if we decide the issue before us ex aequo et bono, then it would be decided by the principles of what is fair and just and not necessarily as per strict rule of law. Thus, since the statute itself has already prescribed a particular method of adjustment in explanation to section 140A(1), then justice, fairness, equity and good conscience demands that same method should be followed while making adjustment for refund of taxes, especially when no contrary provision has been provided. We find that the judicial propriety demands that order of the Tribunal of earlier years must be followed and therefore we direct the AO to re-compute the amount of interest u/s. 244A by first adjusting the amount of refund already granted towards the interest component and balance left if any shall be adjusted towards the tax component. We direct the A.O to allow interest on self assessment tax and also allow interest on such interest.
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