Refund claims after provisional assessment finalisation remain subject to Section 11B and unjust enrichment under the amended regime.

Refund claims arising from the finalisation of provisional assessments made after the relevant statutory amendments were required to follow the amended refund procedure under Section 11B and were subject to the doctrine of unjust enrichment. The earlier assessment period did not displace the amended regime, so the assessee could not avoid the statutory bar merely because the underlying transactions related to an earlier period. The Tribunal's contrary approach was inconsistent with binding precedent, and the refund claim was therefore not maintainable on the footing that unjust enrichment applied.

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Issues: Whether refund arising on finalisation of provisional assessment made after the relevant amendments was governed by Section 11B and the doctrine of unjust enrichment.

Analysis: The refund claim arose from finalisation of provisional assessment after the statutory amendments that made refund claims subject to the procedure under Section 11B and attracted the principle of unjust enrichment. The Court followed its earlier binding decision that refund claims consequent upon finalisation of provisional assessment, where the claim was made after the amended regime came into force, had to be examined under the amended refund provisions and could not escape the bar of unjust enrichment merely because the assessment period related to an earlier period. The contrary view taken by the Tribunal was therefore inconsistent with the controlling precedent of the Court.

Conclusion: The doctrine of unjust enrichment applied, and the refund claim was not maintainable in favour of the assessee on that basis; however, the appeal failed because binding precedent required dismissal of the revenue's challenge.

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