Non Refund of excess Consent charges paid to BDA: Orissa HC directs to allow Refund based on...

The Madras High Court has upheld an Assessing Officer's (AO) order, ruling that Section 263 of the Income Tax Act can be invoked "only in cases of a lack of inquiry," not for "inadequate inquiry." The court's decision, which is a significant victory for the taxpayer, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a tax authority can't add a tax to a company's account without a valid reason.