Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
Transfer pricing comparability requires functional alignment and permits working capital adjustment, while APA margins cannot govern non-covered years...
Treaty benefit, goodwill depreciation and hedging costs: export commission disallowed, while key business deductions and depreciation claims succeeded...
Undisclosed foreign asset classification requires an unexplained source; unrebutted affidavits and corroborative evidence defeated the Black Money Act...
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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