Refund Denial Explained: Unjust Enrichment Prevents Refunds if Duty Costs Aren't Recorded as Expenses.

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....Denial of refund claim - Unjust enrichment - It is a settled position of law that, if the amount for which refund is sought for, has not been booked as an expenditure in the profit and loss account and shown in the asset side of the balance sheet as receivable, it is sufficient evidence that the incidence of duty has not been passed on - AT....