https://www.taxtmi.com/caselaws?id=251404 The Income Tax Appellate Tribunal ruled against the assessee in a case concerning the treatment of expenditure on machinery parts and the refund of tax paid voluntarily under the KVSS, 1998. The Tribunal held that the tax paid under the scheme was non-refundable as per Section 93, rejecting the assessee's claim for a refund. Additionally, the Tribunal found the Assessing Officer's order directing the refund to be erroneous and prejudicial to the Revenue's interests, justifying the Commissioner's invocation of power under Section 263 of the Income Tax Act. Consequently, the Tribunal upheld the Commissioner's decision, dismissing the appeal in favor of the Revenue. en-us Wed, 27 Aug 2014 00:00:00 +0530 Sat, 13 Sep 2014 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251404 The Income Tax Appellate Tribunal ruled against the assessee in a case concerning the treatment of expenditure on machinery parts and the refund of tax paid voluntarily under the KVSS, 1998. The Tribunal held that the tax paid under the scheme was non-refundable as per Section 93, rejecting the assessee's claim for a refund. Additionally, the Tribunal found the Assessing Officer's order directing the refund to be erroneous and prejudicial to the Revenue's interests, justifying the Commissioner's invocation of power under Section 263 of the Income Tax Act. Consequently, the Tribunal upheld the Commissioner's decision, dismissing the appeal in favor of the Revenue. Case-Laws Income Tax Wed, 27 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251404