https://www.taxtmi.com/caselaws?id=368775 The High Court of Bombay granted the substantive prayers in petitions concerning refund processing under the Income Tax Act, 1961. The Respondents were directed to disburse refunds promptly, with the Petitioner reserving the right to claim interest on delayed refunds. The Court emphasized the duty of the Revenue to process refunds in order and promptly, especially those generated from higher authorities. It was noted that in the absence of a clear policy, Courts could impose interest on delayed refunds, with the Revenue responsible for payment. The Court's decision aimed to bring order and discipline to the refund process, ensuring timely disbursement and addressing interest issues effectively. en-us Mon, 01 Oct 2018 00:00:00 +0530 Sat, 13 Oct 2018 15:09:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368775 The High Court of Bombay granted the substantive prayers in petitions concerning refund processing under the Income Tax Act, 1961. The Respondents were directed to disburse refunds promptly, with the Petitioner reserving the right to claim interest on delayed refunds. The Court emphasized the duty of the Revenue to process refunds in order and promptly, especially those generated from higher authorities. It was noted that in the absence of a clear policy, Courts could impose interest on delayed refunds, with the Revenue responsible for payment. The Court's decision aimed to bring order and discipline to the refund process, ensuring timely disbursement and addressing interest issues effectively. Case-Laws Income Tax Mon, 01 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368775