HC directs Income Tax Dept to refund amounts collected in excess of 20% of disputed outstanding taxes

Religare Finvest Limited Vs DCIT (Delhi High Court) Learned counsel for the petitioner relies on the judgment dated 03rd August, 2021 passed by this Court in Eko India Financial Services Pvt Ltd vs. ACIT, WP(C) No.5819/2021 wherein under similar circumstances the Respondents were directed to refund the amounts collected in excess of 20% of the disputed outstanding taxes to the Petitioner therein. Consequently, this Court directs the respondent to verify the facts stated in the two writ petitions and if it finds them to be true and correct then to refund the amount adjusted in excess of 20% of ...