DELHI HIGH COURT
MANMOHAN, MANMEET PRITAM SINGH ARORA
MUFG Bank, Ltd. – Appellant
Versus
Assistant Commissioner of Income Tax, Circle 2(2)(1), International Taxation, Delhi – Respondent
| Table of Content |
|---|
| 1. right to carry forward losses under income tax act. (Para 1 , 2) |
| 2. failure of respondents to comply with tribunal's order. (Para 3 , 4) |
| 3. respondents are processing tribunal's order. (Para 5) |
| 4. court's directive for compliance by respondents. (Para 6 , 7) |
JUDGMENT
Manmohan, J.:
C.M.No.44719/2022
Allowed, subject to all just exceptions
Accordingly, the application stands disposed of.
W.P.(C) 14586/2022
1. Present writ petition has been filed seeking a direction to the Respondents to pass the order giving effect to the order of the Income tax Appellate Tribunal (`Tribunal') dated 13th September 2019 as well as computing the losses for the Assessment Year 2000-01 to be carried forward to subsequent year(s) and pass the order for the Assessment Year 2005-06 setting off the losses and issue consequential refund along with interest under section 244A(1) and additional interest under section 244(1A) of the Income Tax Act, 1961 (`the Act').
2. Learned counsel for the Petitioner states that the Petitioner is entitled to carry forward losses (including unabsorbed depreciation) amounting to Rs. 38,73,42,584/- for the Assessment Year 2000-01 to the subsequent year(s) by v
Authorities must timely implement Tribunal decisions, ensuring compliance with statutory obligations, or face constitutional violations regarding due process.
A tribunal's unappealed order is final and mandates compliance, including refunding tax amounts per statutory provisions.
Timely issuance of refunds as per the Income Tax Act is mandatory to prevent financial prejudice to the taxpayer, emphasizing the obligation of tax authorities to comply with tribunal orders.
Tax authorities are obligated to comply with statutory requirements regarding tax refunds, and failure to do so may contravene constitutional provisions.
The court has the authority to direct the Respondent to pass appeal effect orders and grant refunds in accordance with law.
The court affirmed the Respondents' obligation to act promptly on ITAT orders regarding refunds and applicable interest under the Income Tax Act.
The court's decision emphasized the obligation of the respondents to process rectification applications and issue refunds in accordance with the law within a specified timeframe.
Tax authorities must process rectification applications within a reasonable time and comply with statutory obligations to avoid undue delay and ensure timely refunds.
The court reaffirmed that income tax refunds must be issued as per binding ITAT orders, emphasizing the essentiality of compliance with directions for timely processing and rectification under Articl....
The Court mandated the issuance of tax refunds and appeal effect orders according to the ITAT ruling, emphasizing the importance of timely compliance within stipulated periods.
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