https://www.taxtmi.com/caselaws?id=243672 The High Court upheld the Income Tax Appellate Tribunal's order directing the revenue to refund Rs.159.84 crores to the assessee. It emphasized the Tribunal's jurisdiction to correct unjust exercises of power by the Assessing Officer, ensuring the assessee's access to remedies. The Court found the revenue's actions in attaching and withdrawing funds before the appeal period expired to be hasty and unfair, violating established guidelines. The Tribunal's decision to refund the amount was deemed a valid exercise of inherent powers to restore equity and prevent prejudice against the assessee. en-us Tue, 04 Feb 2014 00:00:00 +0530 Sat, 05 Apr 2014 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243672 The High Court upheld the Income Tax Appellate Tribunal's order directing the revenue to refund Rs.159.84 crores to the assessee. It emphasized the Tribunal's jurisdiction to correct unjust exercises of power by the Assessing Officer, ensuring the assessee's access to remedies. The Court found the revenue's actions in attaching and withdrawing funds before the appeal period expired to be hasty and unfair, violating established guidelines. The Tribunal's decision to refund the amount was deemed a valid exercise of inherent powers to restore equity and prevent prejudice against the assessee. Case-Laws Income Tax Tue, 04 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243672