Headline : Bombay HC raises ‘serious concerns’ over ‘huge interest burden’ on exchequer due to delayed tax refunds, flags officials’ laxity

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The Bombay High Court earlier this month expressed ‘serious concerns’ over ‘laxity’ and delays by the Income Tax department over cases of tax refunds stuck for ‘no rhyme or reason,’ resulting in an increase in ‘huge interest burden’ on the Central government or public exchequer.

The court said such ‘unwarranted interest amounts’ being required to be paid, if saved, can be utilised for other essential public expenditures and citizens are deprived of benefits of such amounts instead of same being paid to the assessee due to negligence of officials.

A bench of Justices Girish S Kulkarni and Advait M Sethna made observations on December 2 while hearing a plea filed by Bloomberg Data Services (India) Pvt Ltd, which challenged delay in receiving tax refunds worth Rs 77. 64 crore for assessment years 2013-14 and 2016-17.

The petitioner firm through senior advocate Percy Pardiwalla argued that the refund had not been processed in a timely manner and an interest of Rs 3.1 crore is due and payable to his client and it has not been granted by the department. The firm sought prompt release of refund along with applicable interest.

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