Development agreements require legal possession or effective enjoyment for capital gains transfer; permissive possession and deferred consideration de...
Prolonged sterilisation of development rights supports capital-gains treatment, while business-income disallowances cannot govern capital-gains comput...
Additional evidence in transfer pricing dispute leads to fresh examination, while tax deductions, TDS credit, fee and refund interest require verifica...
Category II AIF pass-through taxation preserves non-business income character; investment receipts cannot be reclassified without applying recognised ...
The HC allowed the petition and directed Respondent Nos. 2 and 3 to pay interest on the delayed refund to the petitioner, holding that technical system defects, not any fault of the petitioner in filing the shipping bills or GST returns, caused the delay. The court found section 56 of the GST Act mandates compensatory interest where a refund is not granted within the statutory period under section 54(5), and therefore interest accrues from the relevant statutory date. The respondents were ordered to compute and disburse the interest in accordance with law within 12 weeks from receipt of the order, and the petition was allowed.
The HC allowed the petition and directed Respondent Nos. 2 and 3 to pay interest on the delayed refund to the petitioner, holding that technical system defects, not any fault of the petitioner in filing the shipping bills or GST returns, caused the delay. The court found section 56 of the GST Act mandates compensatory interest where a refund is not granted within the statutory period under section 54(5), and therefore interest accrues from the relevant statutory date. The respondents were ordered to compute and disburse the interest in accordance with law within 12 weeks from receipt of the order, and the petition was allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
