Income Tax Refund

Income Tax Refund cannot be adjusted in excess of 20% of Disputed Demand: Delhi HC

Income Tax - In Eko India Financial Services (P) Limited vs Assistant Commissioner of Income Tax in W.P.(C) 5819/2021 dated August 03, 2021 the Hon’ble Delhi High Court directed the Revenue (Respondents) to refund the amount adjusted in excess of 20% of the disputed demand for the Assessment Year (AY). Fact: Eko India Financial Services (P) Limited ...

Read More

Refund of Income Tax for COVID 19 related expenses

Income Tax - We know that COVID-19 is one of the major pandemic which has affected each and every person in the world. It has also created a big hole in the pockets of people on account of medical treatment for those affected by COVID. In this article we will discuss about how to claim refund of TDS […]...

Read More

Draft submission to AO to grant refund after giving Appeal Effect

Income Tax - Draft submission regarding refund to assessee after giving Appeal Effect by Jurisdictional Assessing Officer . Dear Sir , In continuation of my earlier letter Dt. 4.09.2020 sent on mail ID of the concerned Assessing Officer, Ward No. 6(1) , XXXXXXXX and also submitting the application at the counter of the ITD , XXXXXXX . I […]...

Read More

Interest on Income Tax Refund

Income Tax - Many times it may happen that the taxpayer has paid excess tax as against the tax required to be paid by him. In such a case he is granted refund of the excess tax paid by him. In this part you can gain knowledge about various provisions relating to claim of refund of excess tax paid by the taxpayer....

Read More

Income Tax Refund: A Fiduciary Duty Owed by Department to Assessee

Income Tax - Sections 237 and 239 of the Income Tax Act, 1961 deals with the procedure of the refund of the excess income tax paid by the assessee to the revenue department. Section 239 provides for the limitation period of one year within which the assessee should claim his income tax refund. However, this provision is omitted […]...

Read More

RTI reveals CPC not maintains Statistical data of refunds, Grievances & ITR Processing

Income Tax - Smt. Julie has made an RTI to CPC of Income Tax Department and requested details of The number of pending refunds exceeding 90 lakhs, How much ITR not yet processed, How much time it will take to process the ITRs and issue the refunds and How much Grievances in relation to pending refunds which are […]...

Read More

Income Tax CPC not maintains Statistical data of Pending Refunds

Income Tax - Pending Refunds – No Statistical Data maintained by Centralized Processing Centre (CPC), Income Tax Department The Centralized Processing Centre (CPC), Income Tax Department has informed that it does not maintain the statistical data pertaining to the ‘Refunds (pending to be released by the Assessing Officers’ as applica...

Read More

CBDT issues refunds of more than Rs. 2.62 lakh crore upto 31.03.2021

Income Tax - CBDT has issued refunds of more than Rs. 2.62 lakh crore to more than 2.38 crore taxpayers from 1st April, 2020 to 31st March, 2021, as against total refunds of Rs. 1.83 lakh crore issued during the corresponding period of the previous fiscal, marking an increase of almost 43.2%....

Read More

Suggestion /representation on 7 Important Direct Tax Issues

Income Tax - Following is the summary of Suggestion /representation on behalf of the taxpayers/professionals in connection with the Direct tax related matter. Detailed reasoning of same is provided in subsequent paragraphs....

Read More

1st April Onward CBDT issued refunds of over Rs. 88652 crore

Income Tax - As per tweet by CBDT on its official Handle-From 1st April onwards CBDT has, so far, issued refunds of over Rs. 88,652 crore to more than 24.64 lakh taxpayers from 1st April, 2020 onwards. Income tax refunds of Rs. 28,180 crore have been issued in 23,05,726 cases & corporate tax refunds of Rs. 60,472 crore […]...

Read More

Dept undertakes to pay Income Tax refund to petitioner

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

Read More

Dept agreed to process Income Tax refund within 6 weeks after writ before HC

L S Cable and System Ltd. Vs Union of India & Ors. (Delhi High Court) - L S Cable and System Ltd. Vs Union of India & Ors. (Delhi High Court) 1. The petition has been heard by way of video conferencing. 2. Present writ petition has been filed seeking a direction to respondent no.2 to issue refund determined vide assessment order dated 29th November, 2019 under Secti...

Read More

Karnataka HC: Wipro gets supplementary 3% interest on deferred tax refund

Wipro Limited Vs JCIT (Karnataka High Court) - Wipro Limited Vs JCIT (Karnataka High Court) Karnataka High Court allowed the additional 3% interest on the delayed Income Tax Refund to Wipro ( Petitioner) from the Deputy Commissioner of Income Tax (DCIT) (Respondent). The Petitioner approached the Writ Court to challenge the order in which the Re...

Read More

Income Tax refund cannot be withheld without assigning any reason

Mcnally Bharat Engineering Company Limited and Anr. Vs ACIT (Calcutta High Court) - If a statute provides an act to be done by a particular authority and in a particular manner, it should only be done by that authority and in that manner or not at all noted that the Respondent acted arbitrarily by withholding the refund without assigning any reason though the statute mandates for r...

Read More

Delhi HC ruling on adjustment of Income Tax refunds against demand

Eko India Financial Services Private Limited Vs ACIT (Delhi High Court) - Eko India Financial Services Private Limited Vs ACIT (Delhi High Court) Against an assessment of AY 2017-18 the petitioner assessee filed an appeal u/s 246A of the Income Tax Act, 1961. AO adjusted the entire refund of the assessee pertaining to AY 2019-20 against such demand, which was more than 20...

Read More

ITRs up to AY 2017-18 with refund claim to be processed by 30.11.2021

F.No. 225/98/2020 - ITA-II - (30/09/2021) - All validly filed Income Tax Returns (ITRs) up to Assessment Year 2017-18 with refund claim, which could not be processed u/s 143(1) and which had become time barred, should be processed by 30/11/2021 subject to the conditions/exceptions specified therein. F.No. 225/98/2020 – ITA-II Government...

Read More

CBDT instruction on Processing of returns with refund claims

F. No. 225/98/2020/ITA-II - (05/07/2021) - Prescribed statutory time limit for processing of such validly filed returns with refund claims in non-scrutiny cases. As per the earlier order dated 10th July 2020, time frame was given till 31.10.2020 to process such returns with refund claims....

Read More

Extension of Time for processing of ITR with Refund claim for AY 2017-18

F. No.225/98/2020/ITA-II - (10/07/2020) - CBDT Extends Time Limit for processing of Income Tax Return with Income Tax Refund Claims u/s 143(1) for AY 2017-18 in Non scrutiny cases till 31.10.2020....

Read More

Income Tax Refund of Rs. 62.36 crore issued during Covid days

NA - (03/07/2020) - Income Tax Department has issued tax refunds at a speed of 76 cases per minute from 8th April to 30th June, 2020. During this period of just 56 weekdays, the Central Board of Direct taxes (CBDT) has issued refunds in more than 20.44 lakh cases amounting to more than Rs. 62,361 crore....

Read More

Tax Refunds amounting to Rs. 26242 crore issued since 1st April 2020

Release ID: 1626051 - (22/05/2020) - Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs. 26,242 crore to 16,84,298 assessees since 1st April, 2020 to 21st May, 2020. Income Tax refunds amounting to Rs. 14,632 crore have been issued to 15,81,906 assessees and corporate tax refunds amounting to Rs. 11,610 crore have bee...

Read More

Income Tax Refund’s Popular Posts

Recent Posts in "Income Tax Refund"

ITRs up to AY 2017-18 with refund claim to be processed by 30.11.2021

F.No. 225/98/2020 - ITA-II 30/09/2021

All validly filed Income Tax Returns (ITRs) up to Assessment Year 2017-18 with refund claim, which could not be processed u/s 143(1) and which had become time barred, should be processed by 30/11/2021 subject to the conditions/exceptions specified therein. F.No. 225/98/2020 – ITA-II Government of India Ministry of Finance Department...

Read More

Dept undertakes to pay Income Tax refund to petitioner

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

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 wit...

Read More

Dept agreed to process Income Tax refund within 6 weeks after writ before HC

L S Cable and System Ltd. Vs Union of India & Ors. (Delhi High Court)

L S Cable and System Ltd. Vs Union of India & Ors. (Delhi High Court) 1. The petition has been heard by way of video conferencing. 2. Present writ petition has been filed seeking a direction to respondent no.2 to issue refund determined vide assessment order dated 29th November, 2019 under Section 143(3) of the […]...

Read More

RTI reveals CPC not maintains Statistical data of refunds, Grievances & ITR Processing

Smt. Julie has made an RTI to CPC of Income Tax Department and requested details of The number of pending refunds exceeding 90 lakhs, How much ITR not yet processed, How much time it will take to process the ITRs and issue the refunds and How much Grievances in relation to pending refunds which are […]...

Read More
Posted Under: Income Tax |

Karnataka HC: Wipro gets supplementary 3% interest on deferred tax refund

Wipro Limited Vs JCIT (Karnataka High Court)

Wipro Limited Vs JCIT (Karnataka High Court) Karnataka High Court allowed the additional 3% interest on the delayed Income Tax Refund to Wipro ( Petitioner) from the Deputy Commissioner of Income Tax (DCIT) (Respondent). The Petitioner approached the Writ Court to challenge the order in which the Respondent, DCIT, denied additional 3 perc...

Read More

Income Tax Refund cannot be adjusted in excess of 20% of Disputed Demand: Delhi HC

In Eko India Financial Services (P) Limited vs Assistant Commissioner of Income Tax in W.P.(C) 5819/2021 dated August 03, 2021 the Hon’ble Delhi High Court directed the Revenue (Respondents) to refund the amount adjusted in excess of 20% of the disputed demand for the Assessment Year (AY). Fact: Eko India Financial Services (P) Limited ...

Read More

Refund of Income Tax for COVID 19 related expenses

We know that COVID-19 is one of the major pandemic which has affected each and every person in the world. It has also created a big hole in the pockets of people on account of medical treatment for those affected by COVID. In this article we will discuss about how to claim refund of TDS […]...

Read More
Posted Under: Income Tax |

Income Tax refund cannot be withheld without assigning any reason

Mcnally Bharat Engineering Company Limited and Anr. Vs ACIT (Calcutta High Court)

If a statute provides an act to be done by a particular authority and in a particular manner, it should only be done by that authority and in that manner or not at all noted that the Respondent acted arbitrarily by withholding the refund without assigning any reason though the statute mandates for recording the same....

Read More

Delhi HC ruling on adjustment of Income Tax refunds against demand

Eko India Financial Services Private Limited Vs ACIT (Delhi High Court)

Eko India Financial Services Private Limited Vs ACIT (Delhi High Court) Against an assessment of AY 2017-18 the petitioner assessee filed an appeal u/s 246A of the Income Tax Act, 1961. AO adjusted the entire refund of the assessee pertaining to AY 2019-20 against such demand, which was more than 20% of such demand. Hon’ble [&hellip...

Read More

Income Tax CPC not maintains Statistical data of Pending Refunds

Pending Refunds – No Statistical Data maintained by Centralized Processing Centre (CPC), Income Tax Department The Centralized Processing Centre (CPC), Income Tax Department has informed that it does not maintain the statistical data pertaining to the ‘Refunds (pending to be released by the Assessing Officers’ as applica...

Read More
Posted Under: Income Tax | ,

Browse All Categories

CA, CS, CMA (5,807)
Company Law (7,811)
Custom Duty (8,844)
DGFT (4,671)
Excise Duty (4,562)
Fema / RBI (4,901)
Finance (5,283)
Income Tax (38,962)
SEBI (4,219)
Service Tax (3,821)

Search Posts by Date

December 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031