Home Highlights June 2016 Year 2016 This

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1. Claim of Refund and Interest on Refund - Unjust enrichment - amount claimed as refund was not charged to the profit and loss account but retained in 'receivables'...

2. Refund claim - unjust enrichment - merely because the Excise duty is booked as expenditure in Profit & Loss account, it cannot be said the incidence of duty has been passed on - AT

3. Business Auxiliary services (BAS) - taxability of amount shown as "other income" in the Profit & Loss Account (P&L A/c) - revenue failed to show that the amount was...

4. 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...

5. Refund claim - Principles of unjust enrichment - only by way of bit in profit and loss account, it does not amount to passing of the burden to a third person or the...

6. Waiver of loan amount - when a portion of the loan is waived, the total amount of loan shown on the liabilities side of the balance sheet is reduced and the amount shown...

7. Refund of service tax paid - unjust enrichment - Commissioner (Appeals) has upheld the order of original authority rejecting the refund claim on the ground of unjust...

8. Treatment to Forex loss incurred by the assessee on account of derivative transactions as speculative transactions - When the assessee enters into a hedging transaction...

9. Refund - unjust enrichment - The mere fact that the service tax amount have not been in the clients ledger account, and that the service tax amount paid has been...

10. Addition u/s 41(1) - amount ceased to be a liability - The amounts paid as tax has not been obtained in 1995- 96 as the same had not been refunded. Until the amount of...

11. Addition u/s 40A(3) being 20% of the amount paid - assessee was acquiring the land from the various farmers by paying cash to them and debiting it to the capital work in...

12. Refund of Excess Customs Duty paid - principles of unjust enrichment - Following proceedings before the Settlement Commission, it was determined that the appellant had...

13. Addition of interest on NPA - assessee has credited the gross amount of interest on credit side of the Profit & Loss Account and simultaneously shown on the debit side...

14. Refund of SAD - denial of refund on the ground that the test of unjust enrichment not passed on - non-collection of excess duty paid by the appellant - The certificate...

15. Refund - principles of unjust enrichment - the unjust enrichment is not applicable even when the refund amount is claimed as expenses in the Profit and Loss Account.