Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
TNMM functional comparability requires excluding rice manufacturers from a pure Basmati rice trader's benchmark and recognising operating export recei...
Working-capital adjustment subsumes delayed-receivable effects in TNMM benchmarking of captive software-development services, avoiding separate notion...
Transfer-pricing comparability requires exclusion of financially illogical super-profit comparables and correction of unsupported annual-report and ma...
Charitable character assessment preserves Section 80G approval despite inclusive spiritual teachings and incidental religious expenditure within the s...
Penalty proceedings for cash-loan acceptance require assessment proceedings and recorded Assessing Officer satisfaction; absent these, the proceedings...
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The HC allowed the petition and quashed the impugned order dated 07.10.2024 insofar as it denied interest on excess excise duty of Rs. 8,75,461, holding the collection and retention of the amount by the respondents was without lawful authority. The court directed respondents to refund Rs. 8,75,461 with interest at 12% per annum, calculated from the date of actual payment of each installment of the excess duty until the date of refund, reasoning that the State cannot retain taxpayer funds and is under a statutory obligation to restitute with compensation for use. Payment of the interest amount is ordered to be made within six weeks. Petition allowed.
The HC allowed the petition and quashed the impugned order dated 07.10.2024 insofar as it denied interest on excess excise duty of Rs. 8,75,461, holding the collection and retention of the amount by the respondents was without lawful authority. The court directed respondents to refund Rs. 8,75,461 with interest at 12% per annum, calculated from the date of actual payment of each installment of the excess duty until the date of refund, reasoning that the State cannot retain taxpayer funds and is under a statutory obligation to restitute with compensation for use. Payment of the interest amount is ordered to be made within six weeks. Petition allowed.
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