Embezzlement losses in charitable institutions remain allowable when misappropriation is established, irrecoverable, and not a specified-person benefi...
National long-distance undertaking status supports deduction where separately licensed infrastructure, resources, revenue, and expenditure establish c...
Agency reimbursement income follows contractual deposit-liability computation, while pending deposit collections do not constitute deemed-dividend loa...
Membership-consent thresholds for oppression petitions are satisfied by unchallenged voter-list consents, while unsupported forgery claims require pro...
Interest rate on delayed refunds u/s 11BB of Central Excise Act, 1944 restricted to 6% p.a. as per Notification 67/2003-CE (N.T.), overruling appellant's claim of 12%. Madras and Karnataka High Courts upheld 6% rate, rejecting higher rates claimed. Section 11BB empowers Central Government to fix rate between 5-30% through notification. Notification 67/2003 validly issued fixing 6% rate. Appellant's contention of order being beyond show cause notice unsustainable. Appeal dismissed, affirming impugned orders.
Interest rate on delayed refunds u/s 11BB of Central Excise Act, 1944 restricted to 6% p.a. as per Notification 67/2003-CE (N.T.), overruling appellant's claim of 12%. Madras and Karnataka High Courts upheld 6% rate, rejecting higher rates claimed. Section 11BB empowers Central Government to fix rate between 5-30% through notification. Notification 67/2003 validly issued fixing 6% rate. Appellant's contention of order being beyond show cause notice unsustainable. Appeal dismissed, affirming impugned orders.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4881 
