https://www.taxtmi.com/caselaws?id=400900 The Court directed the release of the excess amount of Rs. 8,28,96,584 to the petitioners within four weeks, following a finding that there was no reasonable ground for the Revenue to retain it. The judgment disposed of the petitions, addressing penalty demands for certain assessment years, stay on demands, refund of excess amounts, and the potential effect of pending appeals on penalties. The Court emphasized the need for a proportionate deposit and fair resolution based on the circumstances presented during the proceedings. en-us Thu, 19 Nov 2020 00:00:00 +0530 Fri, 20 Nov 2020 22:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400900 The Court directed the release of the excess amount of Rs. 8,28,96,584 to the petitioners within four weeks, following a finding that there was no reasonable ground for the Revenue to retain it. The judgment disposed of the petitions, addressing penalty demands for certain assessment years, stay on demands, refund of excess amounts, and the potential effect of pending appeals on penalties. The Court emphasized the need for a proportionate deposit and fair resolution based on the circumstances presented during the proceedings. Case-Laws Income Tax Thu, 19 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400900