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of <h1>Delhi HC Orders Interest Refund Under Section 132B of Income Tax Act; Principal Amount Refund Process Outlined</h1> <h3>Dinesh Kumar Versus R.K. Yadav Director Of Income - Tax (INV) -II & Ors.</h3> Dinesh Kumar Versus R.K. Yadav Director Of Income - Tax (INV) -II & Ors. - TMI The Delhi High Court considered an application moved by the respondent seeking a refund of an amount erroneously directed to be refunded to the petitioner along with interest. The respondent argued that the amount attached by the respondent should not have been refunded. The court examined Section 132B of the Income Tax Act, 1961, which outlines the application of seized assets. The court noted that interest would be payable after the initial 120 days from the date of authorization under sections 132 or 132A of the Income Tax Act.The court ordered the refund of the interest amount to the petitioner and allowed the petitioner to approach the Registrar General of the Delhi High Court for the refund of the principal amount deposited with the court. The contempt petition related to the matter was disposed of as satisfied.In summary, the court considered the provisions of the Income Tax Act and ordered the refund of the interest amount to the petitioner, allowing further action for the refund of the principal amount. The contempt petition was also disposed of as satisfied.
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