2024 (12) TMI 262

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.... the Vivad Se Vishwas Act, 2020 ('VSV Act, 2020') along with interest under Section 244A of the Income Tax Act, 1961 ('Act, 1961'). 2. It is inter-alia indicated that the TDS return was filed by the petitioner for F.Y. 2008-09, which was taken up for assessment by the assessing officer. The assessment proceedings were concluded vide assessment order dated 31.3.2011 creating a total demand of Rs. 40,56,14,101/- under Section 201/201(1-A) of the Act, 1961. The demand was raised on the alleged short payment of TDS along with interest. 3. The demand was challenged by the petitioner before the first appellate authority, who by order dated 21.8.2013 allowed the appeal and remanded the matter back for fresh assessment. The assessing officer by t....

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....20.09.2022, indicating refundable sum of Rs. 2,19,42,954/-. However, the amount was not refunded as determined by order dated 20.09.2022 despite several follow ups and representations made to the respondents seeking refund along with interest. No response was received by the petitioner. Based on the said submissions, relief, as noticed hereinbefore, has been sought. 7. Learned counsel for the respondents were directed to complete his instructions. 8. Today Sri Manu Ghildyal, learned Standing Counsel appearing on behalf of the respondents submitted that after filing of the writ petition, a communication dated 19.11.2024 has been issued to the petitioner requesting the company to submit their claim for refund of excess TDS in prescribed For....

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....rd. 15. The facts are not in dispute wherein, the petitioner applied under the VSV Act, 2020 and in full and final settlement Form 5 under the provisions of the VSV Act, 2020 was issued entitling the petitioner to refund of Rs. 2,19,42,954/-. Despite issuance of the said Form, the amount, which should have been automatically paid by the respondents, was not paid, forcing the petitioner to file the present petition. 16. After filing of the present petition, after a passage of two years, it did not lie on the respondents that the petitioner was required to fill Form 26B of the Income Tax Rules for seeking the refund. The said action of the respondents, has no basis inasmuch as once Form 5 under the VSV Act, 2020 was issued entitling the pet....

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....4A of the Income Tax Act in similar circumstances. 20. So far as the plea raised by learned counsel for the respondents with reference to provisions of Explanation to Section 7 of VSV Act, 2020 is concerned, the same has been noticed for rejection only. 21. The provisions of Section 7 of VSV Act, 2020 read as under: "7. Any amount paid in pursuance of a declaration made under section 4 shall not be refundable under any circumstances. Explanation.- For the removal of doubts, it is hereby clarified that where the declarant had, before filing the declaration under subsection (I) of section 4, paid any amount under the Income-tax Act in respect of his tax arrear which exceeds the amount payable under section 3, he shall be entitled to a r....