Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
Bogus donation receipts justified commission income assessment and defeated political-party tax exemption for inaccurate accounts and reporting failur...
Pure reimbursement without income element escapes tax withholding, while delayed withholding and unsupported provisions face deferred or renewed scrut...
Public benefit requirement defeats charitable registration where residents' association services are reciprocal, member-only facilities governed by mu...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4801
Join Channel
TaxTMI 
