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| The Tax Publishers2020 TaxPub(DT) 4988 (Del-HC) INCOME TAX ACT, 1961
Section 244A
Where statement made by Revenue with regard to granting of refund of Rs. 97 lakhs along with interest to assessee within four weeks, was accepted by High Court, accordingly, instant writ petition filed by the assessee seeking directions to Revenue to release such refund of Rs. 97 lakhs along with interest, was disposed of as satisfied.
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Writ - Refund - Interest on refund -
Assessee-company filed a writ petition seeking directions to Revenue to release refund of Rs. 3.98 lakhs for assessment year 2010-2011 and Rs. 97 lakhs for the assessment year 2011-2012 along with interest. During the course of hearing, the assessee admitted that the refund of Rs. 3.98 lakhs had been received by it. It was further stated that the assessee furnished indemnity bond in lieu of payment of Rs. 97 lakhs. Further, Revenue stated that as rectification orders had already been passed, even the refund of Rs. 97 lakhs along with interest would be paid to the assessee within four weeks. Held: The statement made by the Revenue with regard to granting of refund of Rs. 97 lakhs along with interest to the assessee within four weeks, was accepted by High Court and accordingly, instant writ petition was disposed of as satisfied.
REFERRED :
FAVOUR : Petition disposed of as satisfied.
A.Y. : 2011-12
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