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2021 (6) TMI 821 - DELHI HIGH COURTAdjustment of demand against refund - HELD THAT:- We are informed that insofar as AY 2003-2004 is concerned, the applicant/petitioner is entitled to refund of ₹ 4,92,69,031 and likewise in respect of AY 2004-2005, the petitioner is entitled to refund of ₹ 7,94,89,178. As against this, we are told, that the demand for AY 2005-2006 is approximately ₹ 2.02 crores. The assessing officer should have made the adjustment, and passed an appropriate order, in that behalf. Since this suggestion has not been accepted, the captioned application is disposed of, with the following directions: (i) The concerned officer will ensure that the amount payable on account of refund to the applicant/petitioner for AY 2003-2004 and AY 2004-2005 is remitted to it within 10 days of receipt of a copy of the order, after making adjustment to the demand outstanding against AY 2005-2006. (ii) That being said, we may note that Ms. Vibhooti Malhotra has not able to tell us as to whether, apart from AY 2005-2006, any other demand is outstanding qua the petitioner. Therefore, in case it is discovered that a recoverable demand is outstanding vis-a-vis the petitioner, the same will be adjusted before releasing any amount as indicated in paragraph 3(i) above, albeit, only after serving a prior notice and giving due opportunity to the petitioner to contest the same.
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