Where the amount paid by the assessee under this sub-section falls short of the aggregate of the tax and interest as aforesaid, the amount so paid shall first be adjusted towards the interest payable as aforesaid and the balance, if any, shall be adjusted towards the tax payable.
Is the Same concept be used in case of multiple refunds from the Income Tax Department.
02 July 2010
but what happens if the Department is issued multiple refunds? What is the procedure in case of calculating Amount of Refund and Interest U/sec 244A
CAclubindia
