1987 (4) TMI 45

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....er, Messrs. Hansa Agencies Private Ltd., Jalandhar, for the assessment years 1979-80 and 1981-82 were completed on July 31, 1982, and May 26, 1984, respectively. Eventually, the assessment for the year 1979-80 was annulled by the Income-tax Appellate Tribunal, vide its order dated May 6, 1985, and that for the assessment year 1981-82 was annulled by the Commissioner of Income-tax (Appeals), vide h....

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....gust 4, 1985, made a claim before the assessing authority for the refund of the income-tax deposited by it for the two assessment years. According to the petitioner, the assessing authority informed it that the said refund had, with the prior approval of the Commissioner of Income-tax, been withheld by it under section 241 of the Income-tax Act. Aggrieved, the petitioner has approached this court ....

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....orrectness of the two orders are still pending before the High Court and the Income-tax Appellate Tribunal. For the reasons given by us in our judgment in Writ Petition No. 4378 of 1986 (Leader Valves Private Ltd. v. CIT [1987] 167 ITR 542) rendered today, we are of the opinion that the assessing authority is not justified in withholding the refund which had become due to the petitioner as a re....