Home Highlights May 2014 Year 2014 This

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1. Power of AO to withdraw the interest granted u/s 244 by way of rectification of mistake u/s 154 - Interest u/s. 244 could not be withdrawn in absence of clear cut...

2. Interest u/s 244-A - as the amount in question was deposited as tax and not as interest, and also that even if a presumption could be drawn that the amount was...

3. Exemption from Service Tax - The exemption which was earlier granted in the public interest was withdrawn in the public interest - Whether public interest existed or not...

4. Disallowance of interest u/s. 36(1)(iii) - partners of the assessee firm had over withdrawn an amount as in excess of what was brought by them in the firm - the assessee...

5. Deduction us.37(1) on account of “Escrow Disbursement Provision” ('EDP’) - Prior period expenditure - To put it simply, the AO will bifurcate total Escrow Disbursement...

6. Disallowance u/s 35(1)(ii) - withdrawal of approval by the CBDT as was granted to the said HHBRF was only on 06.09.2016 i.e. much after the donation made by the assessee....

7. Interest u/s 214 and 244 - Interest on interest for late grant of refund - it is only that interest provided for under the statute which may be claimed by an assessee...

8. Exemption u/s 11 - Violation of provisions of Section 13(1 )(c) and 13(1)(d) - loans and advances to interested persons - We are of the considered view that the learned...

9. Entitlement to interest u/s 244 (A) - refund arose on account of interest that was partially waived by an order of the Settlement Commission - the expression “due” only...

10. Interest due to part refund - Interest on Interest - claim of interest u/s 244A allowed following the principle prescribed u/s 140A(1) - HC

11. Whether Withdrawal of refund u/s 244(1A) can be made by rectification u/s 154 – Held yes - HC

12. Interest on refund - Money wrongly attached - the provision of interest in Section 244-A would have no applicability in the present case because it is a case of illegal...

13. Interest on 'amount of refund' u/s 244 versus Interest on 'any tax' u/s 244A - AT

14. 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,...

15. Oppression and Mismanagement - seeking to grant waiver to the Petitioners in order to enable them to file application u/s 241 - The deemed waiver, which has been...