Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
Claim of Interest on Refund u/s 7 of the DTVSV Act, 2020 - The High court determined that the petitioner was entitled to refunds as quantified in the Rectification Order dated 29.01.2021. However, it was held that interest under Section 244-A of the IT Act, 1961, was not permissible in light of the DTVSV Act, 2020's provisions, particularly the explanation to Section 7 which precludes interest on excess amounts refunded under the Act. - The court noted the petitioner's adjustments of refunds from later Assessment Years towards the payable amounts for earlier years were acknowledged. However, the court declined the recognition of interest on these adjustments as per the DTVSV Act, 2020.
Claim of Interest on Refund u/s 7 of the DTVSV Act, 2020 - The High court determined that the petitioner was entitled to refunds as quantified in the Rectification Order dated 29.01.2021. However, it was held that interest under Section 244-A of the IT Act, 1961, was not permissible in light of the DTVSV Act, 2020's provisions, particularly the explanation to Section 7 which precludes interest on excess amounts refunded under the Act. - The court noted the petitioner's adjustments of refunds from later Assessment Years towards the payable amounts for earlier years were acknowledged. However, the court declined the recognition of interest on these adjustments as per the DTVSV Act, 2020.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
