Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
Entitlement to refund of countervailing duty and special additional duty paid on excess imports under advance authorisation was asserted on the basis that post GST CENVAT credit was unavailable; transitional provisions require refunds accruing after GST implementation to be paid in cash and admissible credit refunded accordingly, and therefore the departmental rejection was incorrect. The tribunal found the refund claim complied with transitional cash refund rules and Section 142(6)(a) principles and directed allowance of the refund. The tribunal also held unjust enrichment did not bar refund because the refund amount was disclosed in financial statements and a chartered accountant certified non pass through of the duty incidence.
Entitlement to refund of countervailing duty and special additional duty paid on excess imports under advance authorisation was asserted on the basis that post GST CENVAT credit was unavailable; transitional provisions require refunds accruing after GST implementation to be paid in cash and admissible credit refunded accordingly, and therefore the departmental rejection was incorrect. The tribunal found the refund claim complied with transitional cash refund rules and Section 142(6)(a) principles and directed allowance of the refund. The tribunal also held unjust enrichment did not bar refund because the refund amount was disclosed in financial statements and a chartered accountant certified non pass through of the duty incidence.
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