Additional interest u/s 244A(1A) of Income Tax Act Applies for delayed Refunds: ITAT [Read Order]

The tribunal directed the AO to apply Section 244A(1A) from 01.06.2016, applying refunds first to interest before tax
By Sneha Sukumaran Mullakkal - On September 11, 2024 10:18 am - 2 mins read
ITAT - ITAT Ahmedabad - interest - Additional interest - Section 244A(1A) - Section 244A(1A) of the Income Tax Act - Delayed Refund - Income Tax Act - TAXSCAN

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that additional interest under Section 244A(1A) of the Income Tax Act,1961 applies to delayed refunds, even if the original order was made before the introduction of the provision. Jethiben K. Patel,the appellant-assessee,was a discretionary trust for the assessment year 1992-93. The main issue…

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