Karnataka HC Orders Refund with Interest for Erroneous Rs. 17.48 Cr Income Tax Adjustment

LSI India Research And Development Private Limited Vs Assistant Director Of Income Tax Centralized Processing Center (Karnataka High Court)

In the case of LSI India Research And Development Pvt. Ltd. vs Assistant Director of Income Tax, the Karnataka High Court addressed an erroneous adjustment of a refund for the assessment year 2014-15 against an income tax demand for 2017-18. LSI India had a refund of Rs. 17.48 crore due for 2014-15, which was mistakenly adjusted against a disputed demand for 2017-18, despite a stay order being in place on the latter demand. The company

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