Adjustment against illusory demand held illegal: Karnataka HC directs immediate refund of ₹60.45 crore to United Spirits –

United Spirits Limited Vs DCIT (Karnataka High Court) Karnataka HC directs immediate refund of ₹60.45 crore to United Spirits – Adjustment against illusory demand held illegal United Spirits Ltd approached the High Court seeking a direction to the Department to refund ₹60,45,57,292/- pursuant to an order dated 27.06.2024 passed by the DCIT giving effect to earlier directions of Court. The matter had its genesis in W.P. Nos. 13953/2020 & connected cases, where a Co-ordinate Bench of the Karnataka High Court (order dated 17.08.2023) had held that the AO’s proceedings to give effect t...