Timing mismatch in income recognition requires verification whether receipts were already taxed in an earlier year; matter remitted for fresh examinat...
FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
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Refund of TDS could not be denied solely because the return was not e-verified within time, where CPC later condoned the delay and accepted the verification. The tax was admittedly borne by the assessee, and once condonation was granted, reliance on the original technical defect was unsustainable. The Tribunal applied the principle that tax can be retained only with authority of law and that refusal to process the refund in these circumstances would offend Article 265 and amount to unjust enrichment by the Revenue. The rejection of the rectification claim and the supporting appellate order were set aside, and refund was directed to be processed in accordance with law.
Refund of TDS could not be denied solely because the return was not e-verified within time, where CPC later condoned the delay and accepted the verification. The tax was admittedly borne by the assessee, and once condonation was granted, reliance on the original technical defect was unsustainable. The Tribunal applied the principle that tax can be retained only with authority of law and that refusal to process the refund in these circumstances would offend Article 265 and amount to unjust enrichment by the Revenue. The rejection of the rectification claim and the supporting appellate order were set aside, and refund was directed to be processed in accordance with law.
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