In a Relief to Nokia India Private Limited, the Delhi High Court has directed the Disposal of Rectification Application of Refund worth Rs. 58 Crores within Six Weeks.
The Nokia has been filed Writ Petition seeking direction to the Respondents to decide the rectification application dated 8th July, 2021 filed by the petitioner under Section 154 of the Income Tax Act, 1961 by way of a speaking order as well as grant consequential refund along with the applicable interest under Section 244A of the Act. The petitioner also sought a direction to the respondents to refund Rs.58,20,32,660/- adjusted under Section 245 of the Act against the outstanding demand of the assessment year 2014-15.
While disposing the petition, the division bench comprising of Justice Manmohan and Justice Navin Chawla, directed the revenue authorities to decide Nokia’s rectification application filed under Section 154 of the Income Tax Act, 1961 in accordance with law by way of a reasoned order within six weeks.
NOKIA INDIA Pvt Ltd vs ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE 16(1), & ORS.
CITATION: 2022 TAXSCAN (HC) 154
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