Delhi HC ruling on adjustment of Income Tax refunds against demand

Eko India Financial Services Private Limited Vs ACIT (Delhi High Court) Against an assessment of AY 2017-18 the petitioner assessee filed an appeal u/s 246A of the Income Tax Act, 1961. AO adjusted the entire refund of the assessee pertaining to AY 2019-20 against such demand, which was more than 20% of such demand. Hon’ble Delhi High Court, vide order dated 3.8.2021, orderd the Revenue to refund the amount in excess of 20%. This decision is in line of earlier decision of Hon’ble Bombay High Court dated 25.3.2021 in the case of Vrinda Sharad Bal. FULL TEXT OF THE JUDGMENT/ORDER OFÂ...