Bombay HC Directs Income Tax Authorities to Refund Deposit under IDS

Sunil Wamanrao Sakore Vs Union of India (Bombay High Court) In a recent judgment, the Bombay High Court has ruled in favor of a petitioner, directing the Income Tax Authorities to refund the deposit made under the Income Declaration Scheme (IDS). The case revolves around the adjustment of the deposited amount against an outstanding demand and highlights the court’s stance on the matter. The petitioner had objected to the issuance of Form-3, as it did not take into account a sum of Rs.5,07,480/- already paid by the petitioner through various challans. After verification, a revised Form-3 ...