Non-Disclosure of ₹27.67 Lakh Interest Received u/s 244A: ITAT Holds It Taxable and Rejects Rectification Plea

The ITAT (Income Tax Appellate Tribunal) has held that interest received under Section 244A of the Income Tax Act is taxable and has rejected a rectification plea seeking exemption. Section 244A pertains to interest paid by the tax department on refunds due to the assessee. The tribunal's decision clarifies that such interest, even if arising from a refund, is considered income and is subject to taxation. This ruling reinforces the taxability of all forms of interest income, regardless of their source or context within tax proceedings.