https://www.taxtmi.com/caselaws?id=264082 The High Court ruled in favor of the State Bank of India, holding that Section 149A(i) of the Income Tax Act does not apply to the Bank. The Court directed the Income Tax Authorities to refund the amount sought by the Bank promptly, with interest under Section 240 and Section 244 of the Income Tax Act, unless the orders are stayed or set aside by a higher forum. The Court emphasized the importance of timely decision-making on refund applications and upheld the correctness of deleting the amount against the Bank. en-us Mon, 31 Aug 2015 00:00:00 +0530 Thu, 17 Sep 2015 08:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264082 The High Court ruled in favor of the State Bank of India, holding that Section 149A(i) of the Income Tax Act does not apply to the Bank. The Court directed the Income Tax Authorities to refund the amount sought by the Bank promptly, with interest under Section 240 and Section 244 of the Income Tax Act, unless the orders are stayed or set aside by a higher forum. The Court emphasized the importance of timely decision-making on refund applications and upheld the correctness of deleting the amount against the Bank. Case-Laws Income Tax Mon, 31 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264082