Statutory refund interest requires correction of short computation and compensation where admitted interest remains unpaid through administrative dela...
Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
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Cognizance of offence u/s 276CC - non filing of ITR - requirement of mens rea - When the amount in question along with the interest has already been paid, no sentence can be imposed under that provision unless the element of mens rea is established and the intention of the Legislature is that the penalty should serve as a deterrent. In the Act, it has been provided how to proceed if a particular assessee is not filing the return on time, which suggests that it is civil obligation. - HC
Cognizance of offence u/s 276CC - non filing of ITR - requirement of mens rea - When the amount in question along with the interest has already been paid, no sentence can be imposed under that provision unless the element of mens rea is established and the intention of the Legislature is that the penalty should serve as a deterrent. In the Act, it has been provided how to proceed if a particular assessee is not filing the return on time, which suggests that it is civil obligation. - HC
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