Petitioners entitled to interest on delayed refunds for tax claims and Tribunal payments, as mandated by law.

Petitioners entitled to interest on delayed refunds for tax claims and Tribunal payments, as mandated by law. https://www.taxtmi.com/highlights?id=64184 Claim of interest on delayed refund - The Parliament has enacted this law to ensure that the refunds should carry interest. It would imply that any money belonging to the petitioner, which is with the possession of the respondents, requires to be returned along with the rate of interest mentioned therein. Therefore, whether it is a refund of claim of tax or payment in terms of the order of the Tribunal, the petitioner should be entitled for the interest. - HC en-us Tue, 21 Jun 2022 08:56:05 +0530 Tue, 21 Jun 2022 08:56:05 +0530 TaxTMI RSS Generator Petitioners entitled to interest on delayed refunds for tax claims and Tribunal payments, as mandated by law. https://www.taxtmi.com/highlights?id=64184 Claim of interest on delayed refund - The Parliament has enacted this law to ensure that the refunds should carry interest. It would imply that any money belonging to the petitioner, which is with the possession of the respondents, requires to be returned along with the rate of interest mentioned therein. Therefore, whether it is a refund of claim of tax or payment in terms of the order of the Tribunal, the petitioner should be entitled for the interest. - HC Highlights Customs Tue, 21 Jun 2022 08:56:05 +0530 https://www.taxtmi.com/highlights?id=64184