Mumbai High Court Blocks Tax Refund Adjustments for Settlement Scheme Users

• Mumbai High Court ruled against adjusting old tax refunds for taxpayers using settlement schemes.
• Decision benefits thousands who applied for amnesty or settlement schemes for tax arrears.
• Court stated government cannot mutually adjust old refunds against new tax demands post-settlement application.
• Case involved President Trade and Exim Corporation, whose Rs 33.29 lakh refund was wrongly adjusted.
• Court ordered government to refund the amount with interest within two weeks, cancelling the tax department's order.