In Brief
A company in liquidation received land-acquisition compensation from NHAI, with TDS deducted. The court ordered all compensation to be deposited with the High Court Registrar for protection. The company later claimed and received an income-tax refund of the TDS amount and used it for operational expenses. The Supreme Court held this violated the protective order. While claiming the refund is permissible, utilizing it without court leave is not. The Court restrained the company from operating bank accounts without securing Rs.8,32,60,331/- and reversed the Division Bench's interference with this protective order.
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