Karnataka HC Orders Income Tax Refund with Interest to IBM India

IBM India Private Limited Vs DCIT (Karnataka High Court) Karnataka High Court issued a judgment in favor of IBM India Private Limited, directing the Income Tax Department to refund a total amount of Rs.154,08,41,927 with applicable interest. This refund relates to IBM India’s assessment years 2008-09 to 2015-16, in accordance with earlier orders from the Supreme Court, the Tribunal, and the High Court. The petitioner contended that, although the principal amount was refunded, the due interest was not paid as mandated by the earlier court orders. In addition to the principal refund, IBM India...