Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
The text addresses interest liability for long-delayed excise rebate claims, stating that interest accrues from expiry of the statutory three-month period after application and that an abnormal delay justifies payment of interest at a higher commercial rate rather than the standard low statutory rate. It applies the doctrine that wrongful withholding causing unjust enrichment attracts equitable compensation, and concludes that in a case of over twelve years' delay the claimant is entitled to interest at 12% on the sanctioned rebate amount. The consequence is allowance of the appeal with consequential relief awarding higher rate interest on the rebate.
The text addresses interest liability for long-delayed excise rebate claims, stating that interest accrues from expiry of the statutory three-month period after application and that an abnormal delay justifies payment of interest at a higher commercial rate rather than the standard low statutory rate. It applies the doctrine that wrongful withholding causing unjust enrichment attracts equitable compensation, and concludes that in a case of over twelve years' delay the claimant is entitled to interest at 12% on the sanctioned rebate amount. The consequence is allowance of the appeal with consequential relief awarding higher rate interest on the rebate.
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