Interest on refund not hit by proviso to section 244A(1)(aa) of the Income Tax Act: ITAT Ahmedabad

Nirma Limited Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad held that self-assessment tax paid by the assessee losses its character as self-assessment tax once it got adjusted against the tax liability determined in regular assessment. Thus, denial of grant of interest on refund, where refund is below 10% of tax determined, unjustified. Facts- The solitary grievance of the assessee in the present appeal relates to refusal of grant of interest on refund of self-assessment tax in terms of provisions of Section 244A of the Act. The orders of the Revenue Authorities reveal that the same was consistently...