Home Highlights August 2014 Year 2014 This

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1. Interest payable u/s 234B for the purpose of adjustment against the tax paid u/s 140A has to be computed with respect to assessed tax determined on the basis of total...

2. Defaulter under the SVLDRS scheme or not - failure to pay the amount mentioned in SVLDRS-3 in time - Seeking adjustment of refund under Income Tax with amount payable...

3. Computation of Service tax liability - Works Contract - the order of Court below calculating the service tax liability on 100% of the turn-over under works contract...

4. Prosecution proceedings u/s 276CC and 277 - variation in the tax payments - The conduct of the petitioners in filing revised returns immediately after noticing error on...

5. Direct Tax Vivad se Vishwas Act - VSV Act - settlement of the dispute of petitioner for assessment year 2015-16 without withdrawing the interest already granted under...

6. DTVSV Act - in a case where the Appeal is filed by the Income Tax authority, the amount payable shall be one-half of the amount calculated - whether Petitioner is...

7. Validity of manual revised returns filed - scheme of demerger approved - scheme of arrangement approved by NCLT required Petitioner and Hind Lamps to file revised...

8. Benefit of exemption - Supply of Services by RWA - Whether tax would be charged over and above Rs. 7,500/- or the entire amount collected from members is exigible to tax?...

9. Stay orders - Recovery proceedings - The amount recovered from petitioner over and above the amount as per instructions, memoranda, circular towards demand of tax for...

10. Clarification regarding advance tax while filing Updated Return - a retrospective amendment has been proposed in section 140B(4) that interest payable under section 234B...

11. Interest payable u/s 244A(1) - the matter is remanded to the CIT(A) to consider whether under explanation to Section 140A(1), it is stipulated where the amount paid by...

12. The difference in the amount of tax paid with the return and the tax payable would be more than 25% - penalty u/s 45(6) is rightly imposed on the difference of tax paid...

13. Credit of Dividend Distribution Tax u/s 115-O - The AO, in preparing the statement of assessed total income, computed the DDT payable but did not adjust the DDT already...

14. Remission of deferred sales tax liability - deferred sales tax liability will not be chargeable to tax as business income of the assessee - AT

15. Validity of return filed manually - The provisions of section 292B also comes to the rescue of the Assessee in as much as the return filed cannot be invalid merely by...