2023 (10) TMI 1067 - SCH - Income Tax

Release the refund - whether notice under sub-section (2) of section 143 authorize AO to withhold the refund till the last date for finalizing the assessment? - HELD THAT - As assessment order u/s 143(3) of the Income Tax Act, 1961 has been passed. Hence, to some extent the present special leave petition has become infructuous. We would not like to decide the academic question raised, as there have been amendments in the Income Tax Act, 1961. Recording the aforesaid and keeping the question(s) of law open, the present special leave petition stands dismissed as infructuous.

Summary

The Supreme Court dismissed the special leave petition as infructuous since the assessment order under Section 143(3) of the Income Tax Act, 1961 had been passed. The Court chose not to decide the academic question raised due to amendments in the Act, keeping the question(s) of law open.