https://www.taxtmi.com/caselaws?id=13257 The court directed the Revenue to issue a refund to the petitioner for the assessment year 2001-02, along with applicable interest on the refund and the delay, within four weeks, no later than February 15, 2007. The court found that the Revenue failed to comply with procedural requirements under Section 245 of the Income-tax Act, 1961, and unjustifiably delayed the refund. The petitioner was also awarded costs of Rs. 20,000. The court emphasized the need for judicious exercise of discretionary powers and adherence to procedural norms in tax matters. en-us Fri, 12 Jan 2007 00:00:00 +0530 Wed, 07 Feb 2024 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13257 The court directed the Revenue to issue a refund to the petitioner for the assessment year 2001-02, along with applicable interest on the refund and the delay, within four weeks, no later than February 15, 2007. The court found that the Revenue failed to comply with procedural requirements under Section 245 of the Income-tax Act, 1961, and unjustifiably delayed the refund. The petitioner was also awarded costs of Rs. 20,000. The court emphasized the need for judicious exercise of discretionary powers and adherence to procedural norms in tax matters. Case-Laws Income Tax Fri, 12 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13257