Delhi HC directs refund of Income Tax amount exceeding 20% of demand

Max Life Insurance Company Limited Vs Assistant Commissioner of Income Tax Circle (Delhi High Court) Introduction: The Delhi High Court has delivered a significant judgment concerning Max Life Insurance Company Limited and the Assistant Commissioner of Income Tax Circle. The court directed the refund of the Income Tax amount which is in excess of 20% of the outstanding demand for the Assessment Year (AY) 2017-18. This article provides an insight into the details of the case, the arguments, and the court’s reasoning behind the decision. Background: The petitioner, Max Life Insurance Com...