2024 (12) TMI 1547

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.... the Petitioner : Mr Kamal Swahney, Mr Nikhil Agarwal and Mr Puru Medhira, Advocates. For the Respondents : Mr Indruj Singh Rai, SSC, Mr Sanjeev Menon and Mr Rahul Singh, JSCs and Mr Anmol Jagga, Advocate. ORDER 1. The petitioner has filed the present petition, inter alia, impugning an order dated 23.01.2024 issued under Section 245 of the Income Tax Act, 1961 (hereafter the Act) whereby ....

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....e further direct, out of the amount of Rs.10,00,00,000 as directed, upfront, the assessee shall pay an amount of Rs.4,36,11,069 within four weeks from the date of this order. The balance amount of Rs.5,63,88,931 shall be paid by assessee after disposal of its rectification application, stated to be pending before the Assessing Officer/TPO, either by way of adjustment of refund, in case, it arises ....

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.... to the provisions of Section 245 of the Income Tax Act. The term "recovery" includes adjustment of the refund due to the assessee. Thus, the High Court order which directed that the assessment proceedings "would not be given effect to without the leave of the court" translated to a bar on adjustments as well. Furthermore, Section 245 is clear in its mandate regarding the requirement of prior inti....