Home Highlights February 2017 Year 2017 This

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1. Recovery of interest u/s 87 without issuance of SCN - in cases where duty has been paid belatedly and interest has not been paid, interest needs to be demanded and...

2. Time Limitation - demand of interest - even where no period of limitation is provided for recovery of interest, yet a reasonable period has to be read into the provision...

3. Demand of interest - the period of limitation that applies to a claim for the principal amount should also apply to the claim of interest thereon.

4. Demand of Interest - delayed payment of service tax - renting of immovable property services - the period of limitation would apply to the demand of interest.

5. Recovery of interest - extended period of Limitation u/s 11A – limitation period as prescribed in Section 11A would be applicable for recovery of interest also - AT

6. TP Adjustment - notional interest on outstanding receivables due from Associated Enterprises (AES) - assessee not charging any interest from its AEs - Treatment of...

7. Customs Cargo Service Provider (CCSP) - even by any stretch of imagination, HCCAR 2009 in respect of cost recovery charges is made applicable retrospectively, even than...

8. Levy of interest - Even if any provision of law is mandatory and provides for charging of tax or interest - Such charge by the assessing officer should be specific and...

9. Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable...

10. Price variation clause - applicability of period of limitation on demand of Interest under central excise - AT

11. 100% EOU - Demand of Differential Cost Recovery Charges paid - Claim of refund of excess MOT charges paid - the finding of the Commissioner is factually wrong - Demand...

12. Limitation Period u/s 11-A - As the period of limitation that applies to recovery of the principal amount shall also apply to the claim for interest thereon, the demand...

13. TP adjustment - notional interest - short term advances made by the assessee to its associated enterprises - The assessee being unable to establish with evidence the...

14. Interest expenditure - assessee had availed loan at the interest rate of 12% p.a., whereas, it has advanced loan to a sister concern by charging 9% interest p.a - The...

15. Refund - claim of interest - Period of limitation that applies to a claim for the principal amount should also apply to the claim for interest thereon - AT