Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Entitlement to interest on IGST refund - In refund application petitioner has only claimed the integrated tax and not the interest on the same - The High court referred to Section 56 of the CGST/DGST Act and circular issued by CBEC, which mandates interest payment if refunds are not granted within 60 days from the date of application. - The court concluded that interest under Section 56 is mandatory and automatically payable if refunds are not granted within the stipulated period, irrespective of the claim made by the petitioner in the refund application.
Entitlement to interest on IGST refund - In refund application petitioner has only claimed the integrated tax and not the interest on the same - The High court referred to Section 56 of the CGST/DGST Act and circular issued by CBEC, which mandates interest payment if refunds are not granted within 60 days from the date of application. - The court concluded that interest under Section 56 is mandatory and automatically payable if refunds are not granted within the stipulated period, irrespective of the claim made by the petitioner in the refund application.
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