https://www.taxtmi.com/caselaws?id=306107 The court declared the proceedings for Assessment Year 2006-2007 as barred by limitation, set aside the notice issued by the first respondent, and directed a refund of Rs.14,04,01,147/- with applicable interest under Section 244 of the Income Tax Act. The Income Tax Appellate Tribunal remanded the proceedings for a fresh decision. The court emphasized the application of Section 240 of the Income Tax Act, directing the Department to refund the specified amount with interest by April 2022. The petition was disposed of with directions for the refund of the excess amount paid by the petitioner due to the time-barred notice and restored proceedings. en-us Wed, 02 Feb 2022 00:00:00 +0530 Tue, 10 Jan 2023 21:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306107 The court declared the proceedings for Assessment Year 2006-2007 as barred by limitation, set aside the notice issued by the first respondent, and directed a refund of Rs.14,04,01,147/- with applicable interest under Section 244 of the Income Tax Act. The Income Tax Appellate Tribunal remanded the proceedings for a fresh decision. The court emphasized the application of Section 240 of the Income Tax Act, directing the Department to refund the specified amount with interest by April 2022. The petition was disposed of with directions for the refund of the excess amount paid by the petitioner due to the time-barred notice and restored proceedings. Case-Laws Income Tax Wed, 02 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306107