2025 (1) TMI 1767

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....ned Senior Standing Counsel Mr. Karan G Sanghani for the respondents. 2. At the outset learned advocate Mr. Aditya Ajgaonkar submitted that pursuant to the notice issued by this Court on 19.12.2023, the petitioner has received refund of Rs. 2,20,41,042/- through ECS on 25.01.2024. 3. It was submitted that the petitioner is also entitled to interest for delayed payment of refund which the petitioner was eligible pursuant to Form-5 issued being the order for full and final settlement of tax arrear under section 5(2) read with section 6 of the Direct Tax Vivad Se Vishwas Act, 2020 dated 07.12.2021. It was submitted that the petitioner received the outstanding refund after almost two years and therefore, the petitioner is entitled to....

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....ht was transferred. 9. The petitioner thereafter raised grievances on 30.12.2022, 05.01.2023 and 06.01.2023 whereby the petitioner's grievance was resolved and the grievance was closed on portal without any resolution directing the petitioner to approach the Jurisdictional Assessing Officer. 10. The petitioner thereafter once again validated the account with the Union Bank of India on portal on 28.02.2023. The petitioner thereafter raised another grievance on 14.03.2023 and the same was also resolved stating that the amount of refund of Rs. 2,20,41,042/- was sent to OLTAS for outward transmission to refund banker on 06.04.2023 and would be credited in the bank account of the petitioner. 11. Learned advocate Mr. Ajgaonkar for t....

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....titled to the interest on the amount retained by the respondents since May, 2022 or at-least from October, 2022 when the bank account of the petitioner is validated on portal. 12. In support of his submissions, reliance was placed on the following decisions: 1) Decision of Hon'ble Apex Court in case of Union of India v. Tata Chemicals Ltd. reported in (2014) 43 taxmann.com 240(SC). 2) Decision of Hon'ble Delhi High Court in case of Mrs. Anjul v. Office of Principal Commissioner of Income Tax reported in (2022) 145 taxmann.com 140 (Delhi). 3) Decision of Hon'ble Bombay High Court in case of UPS Freight Services India (P) Ltd. v. Deputy Commissioner of Income Tax reported in (2023) 156 taxmann.com 489 (Bombay) ....