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TMI Blog2025 (1) TMI 1503X X X X Extracts X X X X X X X X Extracts X X X X ..... l justice - HELD THAT:- An intimation proposing an adjustment was sent to the petitioner. However, after that, the petitioner was not granted a hearing, and no formal order was made under Section 245 of the IT Act. Instead, by communication dated 16 March 2024, the Petitioner was informed of the adjustment against the outstanding demand for assessment year 2018-2019. In our judgment, the procedure ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Thakkar i/b. Lumiere Law Partners. For the Respondent: Mr. Abhishek Mishra. ORAL JUDGMENT:- (PER M. S. SONAK, J.) 1. Heard learned counsel for the parties. 2. Rule. The Rule is made returnable immediately at the request of and with the consent of the learned counsel for the parties. 3. The Petitioner complains against the adjustment of refund of an amount of Rs. 4,91,45,369/- against t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts regarding objections to the proposed adjustments. There was no consideration of these objections. The petitioner was granted no opportunity of a hearing. No formal order was also made dealing with the petitioner's objections. All this violates the principles of natural justice. 6. In Hindustan Unilever Ltd. vs. Deputy Commissioner of Income-tax-1(1) [2015] 60 taxmann.com 326 (Bombay). The Coo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quash the adjustments made in the purported exercise of powers under Section 245 of the IT Act and direct the Respondents to deposit an amount of Rs. 4,91,45,369/- in this Court within two weeks from today. The Registry should invest this amount in a nationalised bank and it will abide by the orders of the Respondents under Section 245 of the IT Act after giving reasonable opportunity of hearing t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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