Court orders respondent to rectify tax form for 2014-15, allow credit, refund excess amount with interest. The court directed the respondents to rectify Form 3 for the assessment year 2014-15 to allow credit of taxes paid/deducted under the Income Tax Act, 1961 ...
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Court orders respondent to rectify tax form for 2014-15, allow credit, refund excess amount with interest.
The court directed the respondents to rectify Form 3 for the assessment year 2014-15 to allow credit of taxes paid/deducted under the Income Tax Act, 1961 and refund the excess amount with interest to the petitioner. The court ordered the respondents to pay the refund amount of Rs. 6 crores to the petitioner within 15 days from the receipt of the order, disposing of the writ petition and any pending civil miscellaneous application.
Issues: Rectification of Form 3 for assessment year 2014-15 to allow credit of taxes paid/deducted under Income Tax Act, 1961 and refund excess amount with interest to the petitioner.
Analysis: The petitioner filed a petition seeking directions to rectify Form 3 dated 16.4.2021 to allow credit of taxes paid/deducted under the Income Tax Act, 1961 for the assessment year 2014-15 and refund the excess amount with interest. The court noted that a previous order had directed the respondents to rectify Form 3, which was disposed of after clarification that there was no wrong claim by the assessee and the credit had been given in the appropriate year. The court also acknowledged that the ITBA e-filing portal was not functional, causing delays. The petitioner was directed to make further payment while being denied a refund. The court adjourned the matter to allow the respondents to clarify their stand. Subsequently, the petitioner's Form 3 was rectified, showing an entitlement to a refund of Rs. 6 crores, but no payment had been made yet.
The Standing Counsel for the respondents did not contest the factual assertions made by the petitioner's counsel. Considering the circumstances, the court deemed it appropriate to dispose of the writ petition by directing the respondents to pay the refund amount to the petitioner within 15 days from the receipt of the certified copy of the order. With the main case decided, any pending civil miscellaneous application was also disposed of accordingly.
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