HC Imposes Rs. 50000 Cost for Harassment & Delay in Income Tax Refund

Alkem Laboratories Limited Vs Deputy Director of Income Tax (Rajasthan High Court) The Rajasthan High Court addressed a writ petition filed by Alkem Laboratories Limited against the Deputy Director of Income Tax (DDIT), CPC, Bangalore, concerning an intimation order under Section 143(1) of the Income Tax Act. Alkem Laboratories challenged the order dated July 29, 2023, wherein their income was computed at a significantly higher amount of ₹26,62,45,70,910 compared to their returned income of ₹5,15,17,04,850. This resulted in an adjustment of ₹21,47,28,66,060, which the petitioner argued w...