Short grant of Interest u/s. 244A of the Income Tax Act

Last updated: 23 June 2021
Quick Summary
The Income Tax Appellate Tribunal (ITAT) in Hyderabad heard an appeal regarding a short grant of interest under Section 244A of the Income Tax Act for the assessment year 2011-12. The taxpayer, Grandhi Enterprises Private Limited, claimed they were short-changed by £32,063 in interest on their tax refund. The tribunal noted that the issue was more of a reconciliation than a substantive dispute. Consequently, the Assessing Officer was directed to verify the taxpayer's claim with necessary details, providing three opportunities for hearing.

Court :
ITAT Hyderabad

Brief :
This assessee’s appeal for AY.2011-12 arises from the CIT(A)-2, Hyderabad’s order dated 29-01-2019 passed in case No.10079/2017-18/CIT(A)-2, in proceedings u/s.154 of the Income Tax Act, 1961 [in short, ‘the Act’]. Heard both the parties. Case file perused.

Citation :
I.T.A. No. 263/HYD/2019

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