Case Law Details
Bombay Dyeing & Manufacturing Co. Ltd Vs H.D. Trivedi (Bombay High Court)
As petitioner failed to disclose tax properly, amount of disputed tax under KVSS to be determined after reducing tax refunded
Bombay High Court held that the amount of tax refunded to the Petitioner, including interest, is to be reduced while determining the amount of disputed tax under KVSS as the Petitioner had not disclosed and calculated tax properly.
Facts- The present Writ Petition challenges the legality and validity of the orders passed by Respondent no.2 determining the amount of tax payable by the Petitioner pursuant to a declaration filed under the Kar Vivadh Samadhan Scheme, 1998 (“KVSS”) introduced by Finance (No.2) Act, 1998 (“Finance Act”).
It was contended that assuming such refund was to be deducted, the interest granted under section 244A of the Act of Rs. 56,29,680/- which formed a part of the said refund, could in no event had been reduced. The Petitioner further submitted that the adjustment so made was not in accordance with the provisions of the KVSS and that the Respondent No. 2 was required to amend the certificate and issue a fresh certificate.
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