Relief to American Express India: Delhi HC directs Income Tax Dept to allow Refund of Rs.45.60 Crore [Read Order]

A division bench of the Delhi High Court comprising Mr. Justice Manmohan and Mr. Justice Dinesh Kumar Sharma, while allowing a petition by M/s American Express India has directed the income tax department to allow a refund of Rs.45.60 Crore along with applicable interest.

The assessee-Company approached the High Court seeking direction to the income tax department to pass orders disposing of the rectification applications for the Assessment Years 2005-06, 2006-07, 2008-09, 2009-10, 2012-13, 2014-15, 2017-18, 2006-07 (FBT) and 2007-08 (FBT) filed by the Petitioner and consequentially, grant refund of Rs.45.60 crore arising therefrom along with applicable interest under Section 244A of the Income Tax Act, 1961.

The petitioner further contended that the department has failed to process rectification applications filed by the petitioner without any reason or cause.

Allowing the petition, the division bench held that “Keeping in view the limited prayer sought in the present writ petition, respondent No.1 is directed to decide the rectification applications for Assessment Years 2005-06, 2006-07, 2008-09, 2009-10, 2012-13, 2014-15, 2017-18, 2006-07 (FBT) and 2007-08 (FBT) in accordance with law within twelve weeks. Refund, if any, along with applicable interest under Section 244A of the Act shall be issued within the said period.”

To Read the full text of the Order CLICK HERE

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