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2018 (7) TMI 1731 - HC - Income TaxExemption under Section 10(10C) denied - Exemption claimed in revised return - Held that:- Benefit applicable to all the public sector and other companies' employees is applicable to the petitioner also. Section 10(10C) of the Act and Rule 2BA of the Income Tax Rules, 1962, do not specifically apply to RBI alone. Therefore, the benefit is applicable to the petitioner also. Further, the revisional authority has condoned the delay in filing the revised return. Circular No.14(XL35) of 1955, dated 11.04.1955 mandates that the tax payers have to be guided by the assessing officers in the matter of claims and reliefs. Only because an assessee files a return and pays excess tax, it is incumbent on the officials of the Income Tax Department much less the Assessing Authority to inform the reliefs entitled to the assessee. When the Income Tax Department has the power to demand payment of tax, where there is a deficit, it is equally a bounden duty to refund the payment of excess tax also. In such circumstances, the order refusing to refund the excess tax paid by the assessee is not sustainable. Accordingly, the impugned order passed by the first respondent in C.No.407/01/CIT-I/2009-10, dated 18.02.2011, is set aside and the respondents are directed to refund the excess amount, which the petitioner is entitled to, as per Section 10(10C) of the Income Tax Act, 1961.
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