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2014 (8) TMI 204 - HC - Income TaxRefusal to grant refund u/s 240(a) – Whether the refund could be granted on fresh assessment only – Held that:- Assessee is not seeking refund of the tax payable on the basis of the returned income but seeking refund of the tax and interest paid in excess of that payable on the returned income – Relying upon Bharti Engineering Corporation vs. Union of India and ors. [2006 (5) TMI 52 - PUNJAB AND HARYANA HIGH COURT] - revenue is bound to refund the amount in excess of the tax payable of the return - If the argument of the revenue is accepted, it would mean that the assessee will not be able to get their refund even if an assessment is set aside and the matter is sent back for redetermination and the AO is under legal bar to pass a fresh order because of the expiry of the period permitted under law for the purpose - assessee cannot be made to suffer on account of lapse on the part of the AO or any other officer of the Department – revenue is directed to grant refund of the amount along with interest in accordance with law after due verification – Decided in favour of Assessee.
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