| Case ID |
ffff3f08-19c8-46a7-a7cb-10eeec98716e |
| Body |
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| Case Number |
CIVIL APPEAL NO. 1320 OF 2001 |
| Decision Date |
Dec 04, 2002 |
| Hearing Date |
|
| Decision |
The Supreme Court of India ruled in favor of the appellant, allowing the appeal. The Court held that the High Court's decision was clearly to grant the appellant the dues from which he had been unlawfully deprived by the revenue authorities. The computation of interest by the revenue authorities was not in compliance with the High Court's order, and the appellant should be paid appropriate interest. The matter was adjourned for six weeks to determine the actual amount payable to the appellant. |
| Summary |
In the case of CIVIL APPEAL NO. 1320 OF 2001, the Supreme Court of India addressed the issue of withholding refunds by revenue authorities under the Income-tax Act, 1961. The appellant had a Foreign Currency Non-Resident (FCNR) account, which was attached by the Income Tax Officer (ITO) under section 281B, and the entire amount was withdrawn against a demand. Despite the Tribunal setting aside the assessment order and directing a refund, the revenue authorities refused to comply, citing section 241. The High Court ordered the refund with interest, which was not correctly calculated by the revenue authorities. The Supreme Court held that the appellant was entitled to be restored to the position prior to the unlawful actions of the authorities. The case highlights the importance of compliance with judicial orders and the rights of taxpayers under the Income-tax Act, 1961. Key laws involved include sections 241, 244, 244A, and 281B of the Income-tax Act, as well as the Foreign Exchange Regulations Act, 1973. This decision reinforces the judiciary's role in protecting taxpayer rights and ensuring fair treatment by revenue authorities. |
| Court |
Supreme Court of India
|
| Entities Involved |
Reserve Bank of India,
Indian Overseas Bank
|
| Judges |
MS. RUMA PAL,
B.N. SRIKRISHNA
|
| Lawyers |
|
| Petitioners |
|
| Respondents |
Commissioner of Income Tax
|
| Citations |
2003 SLD 3295,
(2003) 264 ITR 657
|
| Other Citations |
Vijay Kumar Bhati v. CIT [1994] 71 Taxman 629 (Delhi)
|
| Laws Involved |
Income-tax Act, 1961,
Foreign Exchange Regulations Act, 1973
|
| Sections |
241,
244,
244A,
281B
|