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2021 (3) TMI 731 - AT - Income TaxInterest under Section 244A - refund being the excess of tax liability on the assessed income over the taxes paid under section 143(1) - CIT(A) expressed the view that interest should be given to the assessee under Section 244A of I.T. Act for the full month even if tax is paid by the assessee on the last day of the month - Revenue is of the view that for constituting part of the month, at least one day should have been completed and a few hours of the day do not constitute part of the month - HELD THAT:- At the time of hearing before us, the representatives of both sides were in agreement that the issue in dispute is covered by the order of Co-ordinate Bench of Income Tax Appellate Tribunal, Delhi in assessee’s own case [2020 (9) TMI 1045 - ITAT DELHI] wherein held having gone through the specific provisions of the Act, pertaining to computation of interest u/s 244A(1)(a) and Sec. 244A(1)(b) as well as Sec. 234A, Sec. 234B & Sec. 234C, we hereby hold that the rule of collection of interest on the taxes due from the taxpayer would be applicable in the comparable way while paying interest to taxpayer on the refund. We direct the Assessing Officer to allow interest under Section 244A of I.T. Act to the assessee to the entire month even when payments / adjustments were made on the last day of the month. Accordingly all the three appeals filed by Revenue are dismissed.
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