2021 (2) TMI 649 - MADRAS HIGH COURT - Income Tax

Head Note / Extract:
Entitlement to the differential claim of interest u/s 244A on refund - Whether the Tribunal was right in law in not following the judgment of the Hon'ble Supreme Court in the case of CIT Vs. H.E.G. Ltd. [2009 (12) TMI 35 - SUPREME COURT] holding that interest component will partake of the character of the amount due u/s 244A of the Act which becomes an integral part of the principal amount and assessee would be entitled to interest after the said amount becomes due and payable? - HELD THAT:- Following the judgment made by the Hon'ble Division Bench of this Court in [2012 (6) TMI 902 - ITAT CHENNAI]the matter is remitted back to the Income Tax Appellate Tribunal to decide the matter afresh in accordance with law.