TMI Blog2014 (2) TMI 948X X X X Extracts X X X X X X X X Extracts X X X X ..... able to be refunded to the block assessment proceedings, especially in view of Section 158BH of the Act – Held that:- The decision in Commissioner of Income-Tax Versus Shelly Products And Another [2003 (5) TMI 4 - SUPREME Court] followed - the assessee was only entitled to the refund of tax paid in excess of the tax chargeable on the total income returned by the assessee. - Decided in favour of re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .../2012 (CC 5030/2012) which reads as under: "Whether in the facts and circumstances of the present case and in law, the Hon'ble High Court was correct in holding that Section 240 of the Act is not applicable to Chapter XIV B of the Act and therefore, the taxes paid pursuant to the return filed in the block assessment is liable to be refunded by holding that the judgment of the Apex Court ..... X X X X Extracts X X X X X X X X Extracts X X X X
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