Refund issued will first be adjusted against interest and then against principal amount

Nirma Limited Vs ACIT (ITAT Ahmedabad)

ITAT Ahmedabad held that the amount of refund issued to the assessee will be first adjusted against the interest then, after that against the principal amount.

Facts- The assessee for the year under consideration filed the return of income declaring total income at Rs. nil and further claimed refund of Please become a Premium member. If you are already a Premium member, login here to access the full content.