Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Allocation of enhanced FSI/TDR proceeds between cooperative society and individual flat-owners; tribunal deletes society LTCG addition, remits 80P ver...
An amount paid during investigation was treated as a refundable deposit, not a voluntary duty payment, because the assessee had consistently disputed liability and the payment was made under a mistaken impression at the insistence of Revenue. Once the proceedings were dropped, the Tribunal held that refund of the investigation deposit carried interest as a matter of course. Applying its earlier authorities, it further held that interest was payable at 12% from the date of deposit until refund, and the denial of interest was set aside.
An amount paid during investigation was treated as a refundable deposit, not a voluntary duty payment, because the assessee had consistently disputed liability and the payment was made under a mistaken impression at the insistence of Revenue. Once the proceedings were dropped, the Tribunal held that refund of the investigation deposit carried interest as a matter of course. Applying its earlier authorities, it further held that interest was payable at 12% from the date of deposit until refund, and the denial of interest was set aside.
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