Interest U/s. 244 allowed on Refund of excess interest charged U/s. 234B

ACIT Vs Development Board (ITAT Ahmedabad)

The central question involved in the present appeal is whether the expression ‘in any other case’ occurring in section 244A(1)(b) of the Act would include interest on an amount of refund resulted from reversal of excess interest charged under s.234B of the Act. As per Income Tax computation form prepared by AO, interest under s.234B was originally computed at ₹4,09,36,700 which was reduced to ₹1,41,03,094 due to reversal of certain additions in the second round of appeal bef

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