https://www.taxtmi.com/caselaws?id=766847 The Court held that the adjustment of the refund for the assessment year 2024-2025 against the demand for the assessment year 2011-2012 should be limited to 5 percent of the demand, in line with CBDT instructions. The Court accepted the Petitioner's alternative submission to pay an additional 5 percent and directed the CIT (Appeal) to resolve the appeal for the assessment year 2011-2012 within six months. The decision favored the Petitioner, emphasizing fairness and compliance with regulatory guidelines, while allowing the revenue to secure the demand if circumstances changed. en-us Mon, 03 Mar 2025 00:00:00 +0530 Wed, 05 Mar 2025 07:49:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766847 The Court held that the adjustment of the refund for the assessment year 2024-2025 against the demand for the assessment year 2011-2012 should be limited to 5 percent of the demand, in line with CBDT instructions. The Court accepted the Petitioner's alternative submission to pay an additional 5 percent and directed the CIT (Appeal) to resolve the appeal for the assessment year 2011-2012 within six months. The decision favored the Petitioner, emphasizing fairness and compliance with regulatory guidelines, while allowing the revenue to secure the demand if circumstances changed. Case-Laws Income Tax Mon, 03 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766847