Judgements and Orders, Supreme Court and High courts of India

Income Tax - set off of the loss suffered in any of the previous year in the block period against the income assessed in other previous years in the block period is not prohibited:

Refund - Unjust enrichment - Issuance of credit note - Wrong valuation due to clerical error noticed after issue of invoice - Credit notes issued and refund claimed - Submission that full payment of sales made not received - Credit note issued only t

Refund claim - Limitation - Protest payment, proof - Rejection on the ground that TR-6 challan under which amount claimed was deposited does not show that it was paid under protest and no protest letter was lodged with Department under Rule 233B of e

Finalisation of Provisional assessment - LB decision in Cadbury [ 2008-TIOL-1986-CESTAT-MUM-LB ] helps Revenue get back refunds of 'interest' granted by the Assistant Commissioner relying on MSEB Pole Factory [ 2005-TIOL-1643-CESTAT-MUM ] decision -

Refund - Excess payment of tax - Sales tax - Tax paid at 1% on gold - Rate of tax reduced retrospectively - Refund of excess paid tax rejected on the ground that notification barring refund of tax collected at higher rate - Excess tax must be refunde

Refund - Cenvat/Modvat - Adjustment of credit - Credit amount cannot be adjusted against refund without issue of a show cause notice - Sections 11A and 11B of Central Excise Act, 1944. [para 8]

Refund - Unjust enrichment - Downward revision of price of goods with retrospective effect as per agreement between parties - Appellants returned differential price as well as differential duty by way of issuing credit notes to buyer - No infirmity i

Section 143, read with section 36(1)(vii), of the Income-tax Act, 1961 - Assessment - Prima facie adjustments - Assessment year 1994-95 - Whether as section 36(1)(vii) does not authorise granting of deduction of any debt unless it is written off in a

Section 457 of the Companies Act, 1956 - Winding up - Powers of liquidator - Applicant-company had rented plant and machinery to ‘O’ in connection with a project - On completion of project, applicant demanded plant and machinery but ‘O’ went into liq

The assessee has written off 1/5th of deferred revenue expenditure in its books of account and claimed the expenditure on deferred basis in its return of income.