1988 (3) TMI 12 - HC - Income Tax

Summary

Mr. Mihir Bhattacharyya directed to appear for Income-tax Department. Federation of Life Insurance Corporation of India Class-I Officers' Association added as party respondent. Insurance company restrained from deducting tax on city compensatory allowance. Tax deducted in 1987-88 to be refunded within four weeks. If already deposited, Income-tax Department to refund against tax payable in 1988-89. Recovery of refunded tax if decision overturned by Supreme Court.