During assessment AO ordered for Demand of 1,00,000.
Assessee filed CIT Appeal and CIT ordered refund of 1,00,000.
AO filled ITAT appeal and ITAT ordered redund of 1,60,000.
Now the question is that on what amount and what period interest on this refund will be given by income tax department..
please provide section detail too
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Refund granted by ITAT
Replies (1)
In my view
Section 244A deals with interest on income tax refund and provides for interest at the rate of 0.5% per month or part of the month on refund amount. Such interest shall be calculated from April 1st of assessment year till the date of grant of refund
Section 244A deals with interest on income tax refund and provides for interest at the rate of 0.5% per month or part of the month on refund amount. Such interest shall be calculated from April 1st of assessment year till the date of grant of refund
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