Calcutta HC Orders Income Tax Refund Release as 20% Disputed Demand Was Already Paid

Asa International India Microfinance Limited Vs DCIT (Calcutta High Court) The Calcutta High Court considered a writ petition challenging the recovery of disputed income tax demand for Assessment Year (AY) 2012-13 during the pendency of the petitioner’s appeal before the Commissioner of Income Tax (Appeals). The petitioner challenged the adjustment of refunds due for AYs 2018-19 to 2022-23 against the disputed demand. The assessment for AY 2012-13 was completed under Section 143(3) of the Income Tax Act, 1961, on 19 March 2015, resulting in a demand of Rs.48,95,220. A further demand of R...