Arindam Mukherjee,J. - (1.) The petitioner No.1 (hereinafter also referred as the assessee) is a public company within the meaning of the Companies Act, 2013. The assessee filed its return of income for the assessment year 2017-18 on 29th November, 2017 declaring a loss of Rs.7,47,68,47,282/- and consequently claimed refund of the entire tax deducted at source amounting to Rs.17,40,26,942/-. On 9th August, 2018, the assessee received a notice under the provisions of Section 143(2) of the Income Tax Act, 1961 (hereinafter referred as the said Act).
(2.) The assessee received another intimation from the respondent no.4 on 15th March, 2019 regarding the assessment under the provisions of Section 143(1) wherein it was declared that the principal refund amount to be Rs.17,40,23,735/- as assessed by the concerned Assessing Officer. The total income tax refund for the assessee for the assessment year 2017-2018 after addition of interest of Rs. 2,08,82,844/- under the provisions of Section 244A of the said Act was computed as Rs.19,49,06,579/-. A refund sequence No.8547644783 was also mentioned in the said intimation stating that the process of income tax return was complete. The assessee on checking the refund status at the TIN-NSDL website, however, found the following message displayed thereat, "Your Assessing Officer has not sent the refund to the refund banker, please contact your Assessing Officer." The assessed refund was, thus, not refunded to the petitioner (assessee). The note appended to the said intimation shows that the refund determined under Section 143(1) of the said Act has been withheld as per provision of Section 241A.
(3.) After hearing the parties it appears that the matter can be decided only on interpretation of the various provisions of the said Act and no factual clarification is required. The matter was, therefor, finally heard out without calling for affidavits to which none of the parties objected to.;