Wp/15915/2022 Of Wep Peripherals Limited v. The Depuyt Commissioner Of Income Tax

Digitallysigned byNARASIMHAMURTHYVANAMALALocation:HIGHCOURT OFKARNATAKA IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 6 DAY OF APRIL,2023 BEFORE THE HON'BLE MR JUSTICE B M SHYAM PRASAD WRIT PETITION NO.15915 OF 2022(T-IT) BETWEEN: WEP PERIPHERALS LIMITED INCORPORATED UNDER THE COMPANIES ACT 40/1A, BASAPPA COMPLEX LAVELLE ROAD, BANGALORE - 560001 REP BY ITS EXECUTIVE DIRECTOR HEMACHANDRA C S, EXECUTIVE DIRECTOR. …PETITIONER (BY SRI. K R PRADEEP.,ADVOCATE) AND: 1. THE DEPUYT COMMISSIONER OF INCOME TAX CIRCLE 7(1)(2) BMTC BUILDING 80 FEET ROAD, 6TH BLOCK, 80 FEET ROAD, 6TH BLOCK, KORAMANGALA BANGALORE - 560095. 2. THE PRINCIPAL COMMISSIONER OF INCOME TAX BENGALURU - 2, BMTC BUILDING, 80 FEET ROAD, 6TH BLOCK, 80 FEET ROAD, 6TH BLOCK, KORAMANGALA, BANGALORE - 560095. …RESPONDENTS (BY SRI.E.I. SANAMATHI., ADVOCATE) THIS WRIT PETITION IS FILED UNDER ARTICLE 227 OF THE CONSTITUTION OF INDIA PRAYING TO DIRECT THE RESPONDENTS TO REFUND THE PRINCIPAL AMOUNT OF RS.57,12,572/- ALONG WITH INTEREST U/S 244A WHICH AMOUNTS TO RS.55,70,760/- WITHIN REASONABLE TIME AS MAY BE PRESCRIBED BY THIS COURT QUANTIFY AND DIRECT THE RESPONDENTS TO COMPENSATE THE PETITIONER FOR THE INORDINATE DELAY IN GRANTING OF REFUND ON ACCOUNT OF FINANCIAL LOSS SUFFERED BY THE PETITIONER BY ADOPTING THE PRINCIPLE OF EX AEQUO ET BONOR ON SUCH OTHER EQUITABLE DOCTRINE. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING: ORDER The petitioner has filed this petition for direction to the respondents to refund the principal amount of Rs.57,12,572/- along with interest as contemplated under Section 244A of the Income Tax Act 1961. This Court on 02.03.2023, while recording the petitioner’s grievance, had called upon Sri.E.I.Sanmathi, the learned standing counsel for the respondents, to communicate this Court’s order for compliance. It is now stated by Sri K.R.Pradeep and Sri.E.I.Sanmathi, the learned counsels for the parties, that refund is allowed with interest and as such, the petition is rendered infructuous. However, Sri E.I.Sanmathi seeks liberty to the Revenue to process the returns in accordance with law as regular assessment has not been completed. If the petition is rendered infructuous with the refund and there could be consequential proceedings, the Revenue must have liberty but subject to all just exceptions. With these observations, the petition stands disposed of. Sd/- JUDGE