Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
HC directed the Income Tax Department to issue orders regarding refunds owed to Petitioners by April 15, 2025, following the department's failure to implement a 2006 ITAT order. Any refunds must be paid by April 30, 2025, with Petitioners agreeing to waive interest claims if this deadline is met. Should payment be delayed beyond this date, 6% annual interest will apply, to be recovered from the responsible officers rather than the State Exchequer. The Department must file a compliance report by May 5, 2025, with the court noting that Petitioners should not need to file fresh petitions for enforcement.
HC directed the Income Tax Department to issue orders regarding refunds owed to Petitioners by April 15, 2025, following the department's failure to implement a 2006 ITAT order. Any refunds must be paid by April 30, 2025, with Petitioners agreeing to waive interest claims if this deadline is met. Should payment be delayed beyond this date, 6% annual interest will apply, to be recovered from the responsible officers rather than the State Exchequer. The Department must file a compliance report by May 5, 2025, with the court noting that Petitioners should not need to file fresh petitions for enforcement.
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