2015 (7) TMI 1306

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..... The respondents, however, have initiated proceedings for reassessment under Sections 147 and 148 of the Act in respect of the same assessment year. The respondents are entitled to set off the refund against any amounts that may be payable pursuant to these proceedings. It will, however, be unfair to withhold the refund indefinitely. The ends of justice would be served by directing the responde .....

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..... he assessment year 2011-2012. 2. In the written statement, it is expressly stated that the process of issue of refund has been initiated on receipt of TDS verification from the Land Acquisition Officer and the same shall be issued immediately with prior approval of the authorities concerned. It is further stated that the rectification order under Section 154 of the Income Tax Act, 1961 (in shor .....

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