Interest under Income Tax- Calendar Month or 30 Day Month?

Alternate Citation- [2011] 16 taxmann.com 291 (Guj.) Issue Before the Court- Whether in facts and in circumstances of the case the Appellate Tribunal was right in law in reversing the orders passed by the CIT (Appeals) and thereby holding that the assessee was entitled to interest under Section 244A of the Act for both the months when the tax was paid and when the tax refundable was adjusted irrespective of the period between such events?” Facts of the Case The respondent assessee had lodged its claim of interest under Section 244A of the Income Tax Act, 1961 (‘the Act’, for shor...