Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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CESTAT allowed appeal concerning export duty refund and interest payment on delayed refund. While appellant claimed provisional assessment, tribunal determined it was a case of final assessment requiring rectification u/s 154 of Customs Act. Revenue's 14-year delay in processing rectification warranted interest payment. Interest awarded at 12% per annum from January 11, 2011 (three months after original order-in-appeal dated October 11, 2010) until September 5/6, 2023 (refund date). Tribunal applied Ranbaxy and Sandvik Asia precedents regarding interest eligibility on delayed refunds. Case established that though initially claimed as provisional assessment, matter was treated as rectification of final assessment, triggering Section 27A interest provisions.
CESTAT allowed appeal concerning export duty refund and interest payment on delayed refund. While appellant claimed provisional assessment, tribunal determined it was a case of final assessment requiring rectification u/s 154 of Customs Act. Revenue's 14-year delay in processing rectification warranted interest payment. Interest awarded at 12% per annum from January 11, 2011 (three months after original order-in-appeal dated October 11, 2010) until September 5/6, 2023 (refund date). Tribunal applied Ranbaxy and Sandvik Asia precedents regarding interest eligibility on delayed refunds. Case established that though initially claimed as provisional assessment, matter was treated as rectification of final assessment, triggering Section 27A interest provisions.
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