Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
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Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
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The High Court expressed concern over the unwarranted burden on the Government of India due to payment of interest on delayed refunds of eligible amounts to assessees. The court directed respondents to file an affidavit after taking instructions from CBDT, confirming the approach to be followed by officials to avoid burdening the public exchequer with interest payments. The court emphasized the need for rules or mechanisms to fix accountability on officers whose actions increase the burden on the government. The court recognized that delayed refunds not only burden the exchequer but also deprive assessees of funds, causing prejudice to both revenue and assessees. The court sought a statement from respondents regarding the total interest payable to the petitioner for appropriate orders.
The High Court expressed concern over the unwarranted burden on the Government of India due to payment of interest on delayed refunds of eligible amounts to assessees. The court directed respondents to file an affidavit after taking instructions from CBDT, confirming the approach to be followed by officials to avoid burdening the public exchequer with interest payments. The court emphasized the need for rules or mechanisms to fix accountability on officers whose actions increase the burden on the government. The court recognized that delayed refunds not only burden the exchequer but also deprive assessees of funds, causing prejudice to both revenue and assessees. The court sought a statement from respondents regarding the total interest payable to the petitioner for appropriate orders.
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