High Court Pushes Department to Release Delayed Tax Refund

Clix Capital had been awaiting a substantial income-tax refund, which remained unresolved amid changes in its legal status and multiple mergers.

The Assessing Officer subsequently computed ₹20,33,42,656as payable to the company and assured the Court that the amount would be credited within two weeks.

The High Court disposed of the writ after recording that the substantive grievance had been addressed, but directed the AO to meet the company to resolve a discrepancy in the computation and examine issues arising from the proposed withholding or adjustment of the refund under Section 245. The assessee's rights concerning refund and interest were expressly reserved.