The Supreme Court of India held that tax refunds are payable only when the burden has not been passed on, warning courts against creating mechanisms beyond statutory limits. Referring to Section 54, it directed amounts to the Consumer Fund.
India will implement its new Income Tax framework from April 1, 2026, replacing the 1961 law to simplify provisions and modernise compliance. Announced by Finance Minister Nirmala Sitharaman, the overhaul aims to align taxation with India’s evolving economic landscape.
