Petitioner entitled to refund of admittedly due amount along ...

Taxpayer gets refund + 8% interest for delay, 2% interest penalty on officers for inaction.

July 15, 2024

Case Laws Customs HC

Petitioner entitled to refund of admittedly due amount along with interest at 8% p.a. instead of statutory 6% for Revenue's delay in releasing refund. Difference of 2% interest to be recovered from officers responsible for inaction. Petition disposed of.

View Source

← Previous Next →

Petitioner entitled to refund of admittedly due amount along ...

Taxpayer gets refund + 8% interest for delay, 2% interest penalty on officers for inaction.

July 15, 2024

Case Laws Customs HC

You may also like:

CBIC clarifies procedure for departmental appeals regarding interest/penalty under Section 128A of CGST Act. Where taxpayers have fully paid tax demands under Section 73...

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...

Contravention of Sections 8(1) and 9(1)(f)(i) of the Foreign Exchange Regulation Act, 1973 - receiving foreign exchange payments in 1996-97 through fake export documents...

The key points covered in the legal document are: 1. It introduces new forms (GST SPL-01 to GST SPL-08) for taxpayers to apply for waiver of interest and penalty u/s...

The appellant is eligible for interest on delayed refund from 22.02.2008 till the refund payment date, calculated at 12% per annum rate. CESTAT allowed the appeal,...

Interest on refund as per Section 244(A) - delay in refund - belated filing of return (ITR) - According to us, the effort was to get refund, the refund was ordered by...

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

Claim of interest on delayed refund - The claim was rejected on the ground that the amount was recredited to the credit ledger - High court found this contention...

Claim of interest on refund of "penalty amount and interest paid thereon" - Petitioner had paid interest on outstanding amount of penalty. On deletion of penalty,...

Payment of interest on refund u/s 244A - refund of excess tax deposited u/s 195(2) - assessee is entitled to get interest from the date of payment of such tax - SC

Claim of interest on delayed Refund - the only reason the respondents/revenue have denied grant of statutory interest to the petitioner, is because Covid-19 was raging...

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...

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...

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...

This corrigendum clarifies that the restriction on refund u/s 150 of the Finance (No. 2) Act, 2024 will not apply to refunds of pre-deposit amounts paid by taxpayers at...

Quick Updates: