Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
Political contribution deductions require recipient party compliance with contribution-reporting conditions; banking-channel donations alone do not qu...
Aggregation under TNMM prevents selective testing of intra-group services without comparable uncontrolled transactions, while appellate additional cla...
Protective assessment cannot duplicate identical receipts under competing characterisations; remote services did not establish a taxable permanent est...
Current account treatment of overseas tournament services removed most FEMA findings, but excess EEFC remittance and delayed repatriation remained bre...
Modification of bail conditions remains available through inherent jurisdiction where onerous deposits undermine justice and cannot recover disputed d...
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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