2023 (12) TMI 97

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..... e of the mandatory intimation required to be given u/s 245 - HELD THAT:- In Bharat Petroleum Corporation Ltd. v. Asst. DIT [ 2021 (11) TMI 1158 - BOMBAY HIGH COURT] the court has held that the requirement of prior intimation under section 245 of the Act was a mandatory requirement and failure to comply with this mandatory requirement of prior intimation would make the entire adjustment as wholly .....

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..... issue the refund of Rs. 27,41,74,119 (Rs. 20,02,89,695 for the assessment year 2016-17, Rs. 3,03,48,246 for the assessment year 2017-18 and Rs. 4,35,36,178 for the assessment year 2019-20) along with interest till the date of payment under section 244A(1) and section 244A(1A) of the Act and additional interest to compensate the interest paid on working capital loan to bank on account of blockage .....

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..... (Bom) the court has held that the requirement of prior intimation under section 245 of the Act was a mandatory requirement and failure to comply with this mandatory requirement of prior intimation would make the entire adjustment as wholly illegal and, therefore, the respondents could not have made the adjustment as they wanted to. 4. On this ground alone prayer clause-(a) as quoted above has .....

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