Mufg Bank, Ltd v. Assistant Commissioner Of Income Tax, Circle2(2)(1), International Taxation, Delhi And Ors

Signature Not Verified $~A-47 *IN THE HIGH COURT OF DELHI AT NEW DELHI +W.P.(C) 14586/2022 MUFG BANK, LTD...... Petitioner Through:Mr.Nikhil Ranjan with Mr.KamalArya, Advocates. versus ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE2(2)(1), INTERNATIONAL TAXATION, DELHI AND ORS. ..... RespondentsThrough:Mr.Kunal Sharma, Sr.StandingCounsel for the Revenueamd Ms.Zeyhra Khan and Mr. Siddharth,Advocates. Date of Decision: 17[th]October, 2022 % CORAM: HON’BLE MR. JUSTICE MANMOHAN HON’BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA J U D G M E N T MANMOHAN, J:C.M.No.44719/2022 Allowed, subject to all just exceptions Accordingly, the application stands disposed of. W.P.(C) 14586/2022 1.Present writ petition has been filed seeking a direction to theRespondents to pass the order giving effect to the order of the Income taxAppellate Tribunal (‘Tribunal’) dated 13[th]September 2019 as well as Signature Not Verified computing the losses for the Assessment Year 2000-01 to be carried forwardto subsequent year(s) and pass the order for the Assessment Year 2005-06setting off the losses and issue consequential refund along with interestunder section 244A(1) and additional interest under section 244(1A) of theIncome Tax Act, 1961 (‘the Act’). 2.Learned counsel for the Petitioner states that the Petitioner is entitledto carry forward losses (including unabsorbed depreciation) amounting toRs. 38,73,42,584/- for the Assessment Year 2000-01 to the subsequentyear(s) by virtue of the relief given by the Tribunal vide order dated 13[th]September 2019. However, he states that the Respondent No.1 has failed topass the order giving effect to the order of the Tribunal without giving anyreason due to which the legitimate refund available to the Petitioner onaccount of losses to be carried forward to the subsequent years is blocked. 3.Learned counsel for the Petitioner states that the Petitioner videemails dated 23[rd]April, 2021, 14[th]October, 2021, 24[th]December, 2021, 22[nd]February, 2022 and 20[th]May, 2022 reminded Respondent No.1 aboutpassing the order giving effect to the order of the Tribunal and requested tore-compute the losses for the Assessment Year 2000-01 to be carriedforward to subsequent year, but to no avail. 4.Learned counsel for the Petitioner further states that the Respondentshave grossly failed in their duty under law in not passing the order givingeffect to the order of the Tribunal dated 13[th]September 2019 and issuing therefund as per the provisions of Section 153(5) of the Act and their action ofwithholding the refund is ex facie violative of Articles 265 and 300A of theConstitution of India. Signature Not Verified 5.Issue notice.Mr.Kunal Sharma, learned senior standing counselaccepts notice on behalf of the Respondents-Revenue.He states that theAssessing Officer is in the process of giving effect to the order of theTribunal dated 13[th]September, 2019. 6.Keeping in view the aforesaid, present writ petition is disposed ofwith a direction to the Respondents-Revenue to pass the order giving effectto the order of the Tribunal dated 13[th]September, 2019 as well as computingthe losses for the Assessment Year 2000-01 to be carried forward tosubsequent year(s) and pass the order for the Assessment Year 2005-06setting off the losses and issue the consequential refund, if any, along withinterest under Section 244A(1) and additional interest under Section244(1A) of the Act within eight weeks. 7.List for compliance on 10[th]January, 2023. MANMOHAN, J MANMEET PRITAM SINGH ARORA, J OCTOBER 17, 2022KA