TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Court orders refund of Rs.82,01,070 to Petitioner's new account due to incorrect details</h1> <h3>M/s ALPHA CORP DEVELOPMENT PRIVATE LIMITED Versus ASSISTANT COMMISISONER OF INCOME TAX</h3> The Court directed the Respondent to process a refund of Rs.82,01,070 for Assessment Year 2018-19 to the Petitioner's new bank account within four weeks ... Rectification u/s 154 - non issue of refund - Respondent sought to transfer the refund to a bank account of the Petitioner which had been closed and so the Petitioner informed the respondents regarding the details of an alternate bank account in which such refund could be transferred - HELD THAT:- Keeping in view the averments in the application, the Respondent- Revenue is directed to take on record the details of the Petitioner’s bank account, as mentioned in Para 6 of the present application, within four weeks from today and process the refund expeditiously in Petitioner’s bank account, in accordance with law. With the aforesaid directions, present application stands disposed of. Issues:Petitioner seeking directions for refund processing for Assessment Year 2018-19 due to bank account change.Analysis:The Petitioner filed an application seeking directions for the Respondent to process a refund of Rs.82,01,070 for the Assessment Year 2018-19 to the Petitioner's new bank account. The Petitioner's rectification application was decided in their favor, leading to the refund becoming due and payable. Despite informing the Respondent about the new bank account details, the refund transfer was delayed as the Respondent attempted to transfer the refund to a closed bank account of the Petitioner.The Court noted the delay in processing the refund due to the incorrect bank account details provided by the Respondent. The Respondent was directed to take on record the details of the Petitioner's new bank account within four weeks and process the refund expeditiously in accordance with the law. The Respondent, represented by learned standing counsel, accepted the notice on behalf of the Respondent, and the application was disposed of with the issuance of these directions.This judgment highlights the importance of accurate bank account information for processing refunds and emphasizes the obligation of the Revenue to act promptly in such matters. The Court's intervention ensured that the Petitioner's rightful refund was processed to the correct bank account, resolving the issue effectively.
TaxTMI 
TaxTMI 
