Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Contractual tolerance requires consideration; breach recoveries, qualifying public infrastructure services and road works escape service tax liability...
The Appellate Tribunal held that denial of interest on delayed refund of Dividend Distribution Tax (DDT) was incorrect. Lower authorities misinterpreted section 244A(1) and wrongly applied subsequent part of the section. Citing ITC Ltd. case, it emphasized that interest payment is a statutory obligation to the assessee. The Tribunal found the denial of interest illegal and set aside the order, ruling that the assessee is entitled to interest on DDT refund from the date of excess tax payment. Assessee's appeal was allowed.
The Appellate Tribunal held that denial of interest on delayed refund of Dividend Distribution Tax (DDT) was incorrect. Lower authorities misinterpreted section 244A(1) and wrongly applied subsequent part of the section. Citing ITC Ltd. case, it emphasized that interest payment is a statutory obligation to the assessee. The Tribunal found the denial of interest illegal and set aside the order, ruling that the assessee is entitled to interest on DDT refund from the date of excess tax payment. Assessee's appeal was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4786
Join Channel
TaxTMI 
