Interest on refund computed after 01-04-1989 to be in accordance with Sec. 244A though it relates prior AYs

INCOME TAX : By Direct Tax Laws (Amendment) Act, 1987, section 244A was inserted with effect from 1-4-1989 and was made applicable for assessment year 1989-90 onwards - Hence, if interest on any excess advance tax paid in a financial year has to be computed after 1-4-1989, same has to be computed in accordance with section 244A only and assessee would be entitled to interest in terms of section 244A only

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