Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
Family-linked property purchases using fabricated loan agreements and benami-style arrangements held to be crime proceeds; attachment upheld, appeal d...
Charitable tree plantation and maintenance for environmental preservation treated as "charitable activity", exempt from GST under Notification 12/2017...
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 4816 
Join Channel 
