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2016 (2) TMI 1312 - HC - Indian LawsSeeking adjustment of refund and interest on refund - seeking remission of future tax liabilities on grounds that the petitioner company had incurred loss due to flood and erosion caused by the mighty Brahmaputra river - HELD THAT:- Admittedly, the refunds due to the petitioner for the assessment Year 1986-87 to Assessment Year 1992-93 had not been set off against the sum due from the petitioner in respect of the Assessment Year 2013-14. Also, the application made by the petitioner under Section 39A of the Act has not reached its logical conclusion. The requirement of law under Section 39 of the Act is that the Superintendent of Taxes or the Agricultural Income Tax Officer is required to refund to an assessee any sum paid by the assessee in excess of the sum due from the said assessee under the Act. Discretion vests with the assessee to opt for receiving the amount by way of set-off against the sum in respect of any other assessment year. The provision for payment of interest for delay caused in making refund is also provided. As regards the remission under Section 39 A, the State Govt. for the purpose of remitting the whole or part of the amount of the tax, interest or penalty payable in respect of any year by an assessee, the conclusion has to be reached by recoding reasons in writing. In the instant case, the exercise required to be undertaken in adjusting the amount refundable along with interest had not been done, as would be apparent from the Assessment Order itself. The objection raised with regard to the maintainability of the writ petition is not required to be gone into having regard to the facts and circumstances of the case and also having regard to the limited prayer made by the petitioner. This writ petition stands disposed of with direction to the respondent authorities to consider the application of the petitioner made under Section 39A of the Act and also to take such necessary steps towards adjustment of the assessed refund due to the petitioner from the Assessment Year 1986-87 to Assessment Year 1992-93 and to make a fresh assessment in respect of the Assessment Year 2013-14 - Petition disposed off.
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