Sales-tax refund inclusion must be reported to income-tax authorities to ensure correct assessment and recover revenue. Refunds of sales tax received by an assessee that affect taxable income must be reported and charged under the income-tax provision linking recovered amounts to income; formal liaison between Income-tax and Sales Tax authorities is to be maintained by the special Investigation Branch, which will inform the concerned Income-tax Officer and record resultant revenue gains.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Sales-tax refund inclusion must be reported to income-tax authorities to ensure correct assessment and recover revenue.
Refunds of sales tax received by an assessee that affect taxable income must be reported and charged under the income-tax provision linking recovered amounts to income; formal liaison between Income-tax and Sales Tax authorities is to be maintained by the special Investigation Branch, which will inform the concerned Income-tax Officer and record resultant revenue gains.
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