Punjab & Sind Bank Wins Refund Case: Delhi HC Allows Rs.1.3 Cr Tax Refund

Punjab And Sind Bank Vs ACIT (Delhi High Court) Introduction: The Delhi High Court’s judgment in the case of Punjab and Sind Bank vs. ACIT brings a significant relief to the bank, allowing the refund of Rs.1.3 crores deposited. This legal analysis explores the grounds for the decision and its implications. Analysis: The case involved a controversy regarding tax deductions at source for payments made to local authorities. The court referred to a previous Supreme Court judgment and noted that the issue was already settled. Despite this, the petitioner bank sought to challenge an earlier or...