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2017 (5) TMI 1469 - SUPREME COURTRefund of tax due to the assessee - Held that:- We direct the Income Tax Authorities to pay the said amount of ₹ 192.54 crores to the Custodian with interest at the rate of 18% from the date of passing of the refund order within a period of 12 weeks from today. As made clear that this direction has been given, having regard to the peculiar facts of this case, and shall not be treated as a precedent. The orders (Ninety) which have already been passed by the ITAT directing the Revenue to re-frame the assessment by taking into account the evidence of books of accounts should be decided by the Assessing Authority within a period of 12 weeks from today. Sofar as the flats in question are concerned, no steps including selling of the same shall be taken until final distribution is made by the Custodian. The Custodian is directed to disburse the said amounts to the Banks subject to the usual Affidavit-cum-Undertaking stating therein that the concerned Bank (s) shall bring back the amount or any part thereof, if so directed by the concerned Court, on such terms and conditions as may be directed.
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