2001 (3) TMI 39 - HC - Income Tax

Summary

The High Court of Calcutta ruled that adjustment of refund without prior intimation under section 245 of the Income-tax Act, 1961, for the assessment year 1991-92 is illegal and against natural justice. The court directed the refund of the adjusted amount with interest and set aside the adjustment. The demand is revived, and both parties can take further legal steps. No costs were awarded.