Home Highlights August 2012 Year 2012 This

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1. Refund of tax amount paid - Amount paid under protest - applicability of time limitation - Though the petitioner had voluntarily paid the aforesaid amount during the...

2. Refund claim towards excess custom duty paid - same amount paid twice through oversight and bonafide mistake - The petitioner is entitled to get refund along with...

3. 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,...

4. Levy of penalty u/s 270A - Failure to offer the interest on income tax refund subject to tax - the explanation of the assessee for not offering the interest on income...

5. Interest Liability u/s 234B - settlement of case u/s 245D(4) - Levy of interest on tax on additional income offered without providing the set off of the prepaid taxes...

6. Interest in terms of Section 244A - When an order of refund is issued, the same should include interest payable on the amount, which is refunded. If the refund does not...

7. MAT computation - Book Profit - addition of interest on income tax refund to the Net Profit - As there is no dispute on the fact that assessee has offered interest on...

8. 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...

9. Interest earned on income-tax refund - AO directed to levy the tax on the interest of income-tax refund at 15% on gross basis.

10. Entitlement of interest on refund amount - relevant time for calculation of interest - In the present matter the time limit for payment of the refund amount to the...

11. Recovery of erroneous Refund of interest on delayed payment of differential duty - price variation clause - Rejection on the ground that since the appellant was liable...

12. Addition u/s 41(1) - amount ceased to be a liability - The amounts paid as tax has not been obtained in 1995- 96 as the same had not been refunded. Until the amount of...

13. Taxability of interest on income tax refund received - PE in India or not? - whether shall be taxable as business income under Article 7 of India-France DTAA as against...

14. Exemption from tax under Section 115-O - Tax on distributed profit / Dividend Tax - Once it is held that the amount distributed or paid by Petitioner by way of dividend...

15. Interest on Delayed Refund of Input Tax Credit - Proviso to Section 56 specified increased interest rates for refunds arising from orders of adjudicating or appellate...