Interest on delayed release of requisitioned cash includes statutory pre-assessment interest and restitutionary compensation for unlawful post-assessm...
Incomplete inventory records justify rejecting accounts, while profit estimation requires relevant comparable material and interest falls under other ...
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Extended reassessment limitation in search cases requires asset-linked escaped income, invalidating additions based only on unexplained money or expen...
Enhanced tolerance band under section 43CA applies retrospectively, deleting qualifying deemed-sale additions while disputed stamp valuation requires ...
GST refund limitation for an unregistered flat purchaser following cancellation of a construction-linked booking must exclude the period prescribed in Notification No. 13/2022-Central Tax when computing the two-year period under section 54(1). The refund application was therefore within time. Where the developer deposited GST but refunded only the non-tax consideration, the purchaser may claim refund if the GST incidence was borne by the purchaser and the requirements of Statement 8 and Rule 89(2) are met. As the ultimate consumer, the purchaser is not barred by unjust enrichment. Refund was admissible with applicable interest after sixty days from the refund application.
GST refund limitation for an unregistered flat purchaser following cancellation of a construction-linked booking must exclude the period prescribed in Notification No. 13/2022-Central Tax when computing the two-year period under section 54(1). The refund application was therefore within time. Where the developer deposited GST but refunded only the non-tax consideration, the purchaser may claim refund if the GST incidence was borne by the purchaser and the requirements of Statement 8 and Rule 89(2) are met. As the ultimate consumer, the purchaser is not barred by unjust enrichment. Refund was admissible with applicable interest after sixty days from the refund application.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
