The appeals of the assessee are partly allowed for statistical purposes and the appeal of the Revenue in ITA
Bench: Shri Anil Chaturvedi, Am & Shri Partha Sarathi Chaudhury,Jm Sl.
section 244A(3), such variation of interest shall be substituted for the interest originally granted by reduced or increased amount, as the case may be, by rectification u/s.154 of the Act. [Relied on Garden Silk Mills Vs. CIT (1996) 221 ITR 861 (Guj.)] Accordingly, the AO has jurisdiction for rectifying the interest paid/payable on refund