https://www.taxtmi.com/caselaws?id=407049 The Court deemed the adjustment of refunds exceeding the prescribed limit against the income tax demand for a specific assessment year as illegal. It ordered the return of the excess amount to the petitioner, emphasizing adherence to guidelines and circulars issued by the CBDT in refund adjustments. The judgment highlighted the necessity of a fair and lawful process for both taxpayers and tax authorities, directing that refunds should not be adjusted until the appeal is resolved. en-us Thu, 25 Mar 2021 00:00:00 +0530 Tue, 13 Jul 2021 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407049 The Court deemed the adjustment of refunds exceeding the prescribed limit against the income tax demand for a specific assessment year as illegal. It ordered the return of the excess amount to the petitioner, emphasizing adherence to guidelines and circulars issued by the CBDT in refund adjustments. The judgment highlighted the necessity of a fair and lawful process for both taxpayers and tax authorities, directing that refunds should not be adjusted until the appeal is resolved. Case-Laws Income Tax Thu, 25 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407049