DID YOU KNOW that the Income Tax Department is liable to pay penal interest of 3% per annum if there is a delay of more than one year in issuing refunds after refund is determined to be payable to the assessee?
DID YOU ALSO KNOW that our office represented an engineering design company in a writ petition where the Delhi High Court ordered the Income Tax Department to immediately release refunds that were withheld for over 10 years along with interest and penal interest.
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