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Institutional incapacity in customs settlement proceedings excludes non-functional quorum periods from statutory disposal timelines, preventing automa...
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Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
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Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
The assessee claimed additional interest u/s 244A(1A) for the delayed refund. The AO incorrectly adjusted the refund against the tax component instead of first adjusting it against the interest component. The Tribunal held that the refund should be first adjusted against the interest component, following the principles of equity and fairness, as applied when collecting taxes. The Tribunal relied on the decisions in Tata Sons Pvt. Ltd. and Nirma Ltd., emphasizing consistent and fair treatment by the revenue. The AO was directed to re-compute the interest u/s 244A by first adjusting the refund against the interest component and then against the tax component, and grant additional interest u/s 244A(1A) for the period from 01.06.2016 to 05.07.2017. The assessee's appeal was partly allowed.
The assessee claimed additional interest u/s 244A(1A) for the delayed refund. The AO incorrectly adjusted the refund against the tax component instead of first adjusting it against the interest component. The Tribunal held that the refund should be first adjusted against the interest component, following the principles of equity and fairness, as applied when collecting taxes. The Tribunal relied on the decisions in Tata Sons Pvt. Ltd. and Nirma Ltd., emphasizing consistent and fair treatment by the revenue. The AO was directed to re-compute the interest u/s 244A by first adjusting the refund against the interest component and then against the tax component, and grant additional interest u/s 244A(1A) for the period from 01.06.2016 to 05.07.2017. The assessee's appeal was partly allowed.
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