Case Law Details

Case Name : Hyosung Corporation Vs Union of India & Ors. (Delhi High Court)
Appeal Number : W.P. (C) 4681/2020
Date of Judgement/Order : 06/10/2020
Related Assessment Year :

Hyosung Corporation Vs Union of India & Ors. (Delhi High Court)

Learned counsel for the Department states that the petitioner has filed a rectification application in which a prayer for up-to-date interest has also been made. He assures and undertakes to this Court that the petitioner’s rectification application shall be decided within two weeks and up-to-date interest, in accordance with law, shall be paid to the petitioner.

The statement/undertaking given by learned counsel for the respondents, on instructions of the Assessing Officer, is accepted by this Court and the respondents are held bound by the same.

Income Tax refund concept, coin and tax return sign on hand

FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT

1. The petition has been heard by way of video conferencing.

2. In pursuance to the last order, the Assessing Officer/Assistant Commissioner of Income-Tax is personally present by way of online video link. He has placed on record the refund order dated 10th September, 2020.

The said order reads as under:-

“Sub: Request for online approval of refund in the case of M/s Hyosung Corporation (PAN AACCH1033M) for AY 2017-18, refund amount of Rs.3,93,62,457/- (3,64,85,909/- + Intt u/s 244A 28,76,548/-) – reg.

Kindly refer to the above.

In this case, while passing assessment order u/s 144C/143(3) of the IT Act dated 24.06.2019 a refund amount of Rs.3,93,62,457/-(3,64,85,909/- + Intt u/s 244A 28,76,548/-) has been determined after allowing TDS credit of Rs.9,20,24,145/-. Further it is submitted that the assessee has also filed writ application before Hon’ble High Court of Delhi for the year under consideration.

Keeping in view the above facts, the refund of approval request in the instant case is submitted for your kind perusal and approval of refund as per details mentioned as under:-

Name of Assessee A.Y. Basic Refund Intt u/s 244A Gross Amount
M/s Hyosung Corp. (AACCH1033M 2017-18 3,64,85,909/- 28,76,548/- 3,93,62,457/-

3. However, learned counsel for the petitioner states that he has not been paid interest on the refund amount till date.

4. Learned counsel for the respondents states that the petitioner has filed a rectification application in which a prayer for up-to-date interest has also been made. He assures and undertakes to this Court that the petitioner’s rectification application shall be decided within two weeks and up-to-date interest, in accordance with law, shall be paid to the petitioner.

5. The statement/undertaking given by learned counsel for the respondents, on instructions of the Assessing Officer, is accepted by this Court and the respondents are held bound by the same.

6. Recording the aforesaid undertaking, the present writ petition stands disposed of.

7. The order be uploaded on the website forthwith. Copy of the order be also forwarded to the learned counsel through e-mail.

Download Judgment/Order

More Under Income Tax

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930