Retrospective application of beneficial circulars upheld, binding officers and granting post adjudication relief where adjudication occurred after cir...
Admissibility of Investigation Statements requires witness examination before the adjudicating authority; otherwise statements cannot sustain a penalt...
Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
The dominant issue was whether an assessee is entitled to interest for a substantial delay in receiving a refund granted under the Direct Tax Vivad Se Vishwas Act, 2020, and whether "interest on interest" is payable. Relying on binding precedent recognising compensation for delayed refunds and permitting interest on the interest component where refund is unlawfully withheld, the Court held that the revenue could not deny statutory/compensatory interest merely because the refund had been sanctioned but not paid. Consequently, a writ of mandamus was issued directing payment of interest at 6% p.a. on the delayed refund from 25-05-2021 till 10-01-2024, along with interest on such interest. - HC
The dominant issue was whether an assessee is entitled to interest for a substantial delay in receiving a refund granted under the Direct Tax Vivad Se Vishwas Act, 2020, and whether "interest on interest" is payable. Relying on binding precedent recognising compensation for delayed refunds and permitting interest on the interest component where refund is unlawfully withheld, the Court held that the revenue could not deny statutory/compensatory interest merely because the refund had been sanctioned but not paid. Consequently, a writ of mandamus was issued directing payment of interest at 6% p.a. on the delayed refund from 25-05-2021 till 10-01-2024, along with interest on such interest. - HC
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
