The Department must pay interest on the sum of ₹ 10 lakhs ...

Department Must Pay Interest on Rs. 10 Lakhs Refund Delay, But Not on Unrequired Bank Guarantees.

November 25, 2017

Case Laws Customs HC

The Department must pay interest on the sum of ₹ 10 lakhs deposited by the petitioners to the extent of delay in refunding the same - On the Bank Guarantees, we do not see any case for granting interest since the petitioners were not made to deposit the same with the Department. - HC

View Source

← Previous Next →

The Department must pay interest on the sum of ₹ 10 lakhs ...

Department Must Pay Interest on Rs. 10 Lakhs Refund Delay, But Not on Unrequired Bank Guarantees.

November 25, 2017

Case Laws Customs HC

You may also like:

Refund claim of amount deposited during investigation - the appellant is entitled to refund with interest under Section 35 FF, for which no limitation is applicable. The...

Court set aside auction sale on equitable grounds as entire amount due was deposited by respondents. Appellant deprived of using Rs.81,20,000 from 21.07.2019 till...

Petitioner paid Rs. 8,46,84,821/- under Settlement Scheme for 2010-2011, against which Respondents recovered Rs. 19,16,74,501/-, resulting in excess collection of Rs....

Non-payment of interest on refund u/s 18(4) of the Customs Act 1962 upon finalization of provisional assessment was challenged. Upon completion of the specified import...

The case involved a claim for refund of interest u/s 72 of Finance Act, 2010 to benefit from a retrospective amendment to Rule 6 of CCR, 2002/2004. The Tribunal held...

HC ruled against granting interest on delayed tax refund while upholding the refund claim itself. The respondent's application for condonation of delay, filed on...

The appeal was made regarding the incorrect charge of interest u/s 234B of the Act in an order passed u/ss 254, 143(3), and 153A. The issue was whether the assessee...

Interest u/s 244A on delayed refund - the interest on the delayed refund becomes part of the principle amount and the delayed interest includes the interest for not...

ICAI's Suggestions for Review of Income Tax Act, 1961: Tax Deducted at Source (TDS) prosecution proceedings are appropriate only where deductors deliberately do not...

Addition of fixed deposits and interest thereon in wife's name was deleted as the Revenue could not controvert that the deposits belonged to the assessee's wife from her...

Interest on Delayed Refund of Input Tax Credit - Proviso to Section 56 specified increased interest rates for refunds arising from orders of adjudicating or appellate...

Delay in issuing Refund under Direct Tax Vivad Se Vishwas Scheme 2020 - interest on delayed refund - Despite the issuance of Form No. 5, the refunds for the Assessment...

Interest on delayed refund of IGST paid on export of the goods along with duty drawback - The refund of the petitioner was withheld for almost six months and after six...

Interest on delayed refund - relevant time for calculation of interest - Considering Section 30 of the Act, which stipulates interest on delayed refunds, the court...

Refund claim – Interest on delayed refund -There was a delay of more than three months in payment of refund to the assesse and department was liable to pay interest on...

Quick Updates: