Bloomberg Data Services (India) Pvt Ltd Vs DCIT (Bombay High Court)
Bombay High Court held that delayed payment of refund burdens public exchequer with interest amount and also causes serious prejudice to the assessee. Accordingly, delayed payment of refund causes serious prejudice to both revenue and assessee.
Facts- This petition under Article 226 of the Constitution of India brings to the fore a serious concern in the laxity of the Respondent-department in the matter of refund of tax to the petitioner and which is an admitted amount. We may also observe that routinely cases are reaching this Court where refunds for no rhyme or reason are stuck, they are either not being processed or if even processed, they are not being released and in such cases the interest burden on the Government of India / Public exchequer keep mounting every passing day.
The present case is one of such case, wherein the petitioner being aggrieved by the Revenue’s inaction of the refund being not granted to the petitioner for the Assessment Year 2016-17 and 2013-14, and which was being adjusted for the refund for 2023-24 has approached this Court. The petitioner has claimed that a large sum of refund of Rs. 77,64,71,629/- was not being granted to the petitioner.
