Delhi High Court
Mufg Bank, Ltd. vs Assistant Commissioner Of Income ... on 17 October, 2022
Neutral Citation Number : 2022/DHC/004343
$~A-47
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ W.P.(C) 14586/2022
MUFG BANK, LTD. ..... Petitioner
Through: Mr.Nikhil Ranjan with Mr.Kamal
Arya, Advocates.
versus
ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE
2(2)(1), INTERNATIONAL TAXATION, DELHI AND ORS.
..... Respondents
Through: Mr.Kunal Sharma, Sr.Standing
Counsel for the Revenueamd Ms.
Zeyhra Khan and Mr. Siddharth,
Advocates.
% Date of Decision: 17th October, 2022
CORAM:
HON'BLE MR. JUSTICE MANMOHAN
HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA
JUDGMENT
MANMOHAN, J:
C.M.No.44719/2022
Allowed, subject to all just exceptions
Accordingly, the application stands disposed of.
W.P.(C) 14586/2022
1. Present writ petition has been filed seeking a direction to the
Respondents to pass the order giving effect to the order of the Income tax
Appellate Tribunal ('Tribunal') dated 13th September 2019 as well as
Signature Not Verified
Digitally Signed By:JASWANT
SINGH RAWAT
Signing Date:18.10.2022
Neutral Citation Number : 2022/DHC/004343
computing the losses for the Assessment Year 2000-01 to be carried forward
to subsequent year(s) and pass the order for the Assessment Year 2005-06
setting off the losses and issue consequential refund along with interest
under section 244A(1) and additional interest under section 244(1A) of the
Income Tax Act, 1961 ('the Act').
2. Learned counsel for the Petitioner states that the Petitioner is entitled
to carry forward losses (including unabsorbed depreciation) amounting to
Rs. 38,73,42,584/- for the Assessment Year 2000-01 to the subsequent
year(s) by virtue of the relief given by the Tribunal vide order dated 13th
September 2019. However, he states that the Respondent No.1 has failed to
pass the order giving effect to the order of the Tribunal without giving any
reason due to which the legitimate refund available to the Petitioner on
account of losses to be carried forward to the subsequent years is blocked.
3. Learned counsel for the Petitioner states that the Petitioner vide
emails dated 23rd April, 2021, 14th October, 2021, 24th December, 2021, 22nd
February, 2022 and 20th May, 2022 reminded Respondent No.1 about
passing the order giving effect to the order of the Tribunal and requested to
re-compute the losses for the Assessment Year 2000-01 to be carried
forward to subsequent year, but to no avail.
4. Learned counsel for the Petitioner further states that the Respondents
have grossly failed in their duty under law in not passing the order giving
effect to the order of the Tribunal dated 13th September 2019 and issuing the
refund as per the provisions of Section 153(5) of the Act and their action of
withholding the refund is ex facie violative of Articles 265 and 300A of the
Constitution of India.
Signature Not Verified
Digitally Signed By:JASWANT
SINGH RAWAT
Signing Date:18.10.2022
Neutral Citation Number : 2022/DHC/004343
5. Issue notice. Mr.Kunal Sharma, learned senior standing counsel
accepts notice on behalf of the Respondents-Revenue. He states that the
Assessing Officer is in the process of giving effect to the order of the
Tribunal dated 13th September, 2019.
6. Keeping in view the aforesaid, present writ petition is disposed of
with a direction to the Respondents-Revenue to pass the order giving effect
to the order of the Tribunal dated 13th September, 2019 as well as computing
the losses for the Assessment Year 2000-01 to be carried forward to
subsequent year(s) and pass the order for the Assessment Year 2005-06
setting off the losses and issue the consequential refund, if any, along with
interest under Section 244A(1) and additional interest under Section
244(1A) of the Act within eight weeks.
7. List for compliance on 10th January, 2023.
MANMOHAN, J
MANMEET PRITAM SINGH ARORA, J
OCTOBER 17, 2022
KA
Signature Not Verified
Digitally Signed By:JASWANT
SINGH RAWAT
Signing Date:18.10.2022
