Court Rules Improper Adjustment of Interest & Penalty from Refundable Amount; Issue Was Sub Judice Before Tribunal.

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....Adjustment of interest and penalty from the refundable amount - Such power of adjustment cannot be exercised for demand of tax/interest/penalty which is sub judice. Admittedly, in the facts of the present case, the amount of interest and penalty are sub judice before this Tribunal and this fact was admittedly in the knowledge of the court below. - the adjustment made from the amount refundable to the appellant is bad and the same is set aside. - AT....