Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
The HC affirmed that despite no express provision in the Direct Tax Vivad se Vishwas Act, 2020, the Revenue is obligated to refund excess amounts within reasonable time following acceptance of declaration. In this case, the ACIT unreasonably delayed refund action from December 2021 until November 2023. The court determined it has authority to grant interest under Section 3 of the Interest Act, 1978, notwithstanding provisions in the Income Tax Act or the Vivad se Vishwas Act, when delay is solely attributable to Revenue's fault. Concurring with precedent that the State must compensate for wrongfully retaining and using funds, the HC upheld the Single Judge's decision ordering interest payment on the delayed refund amount.
The HC affirmed that despite no express provision in the Direct Tax Vivad se Vishwas Act, 2020, the Revenue is obligated to refund excess amounts within reasonable time following acceptance of declaration. In this case, the ACIT unreasonably delayed refund action from December 2021 until November 2023. The court determined it has authority to grant interest under Section 3 of the Interest Act, 1978, notwithstanding provisions in the Income Tax Act or the Vivad se Vishwas Act, when delay is solely attributable to Revenue's fault. Concurring with precedent that the State must compensate for wrongfully retaining and using funds, the HC upheld the Single Judge's decision ordering interest payment on the delayed refund amount.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
