Interest levied by Revenue u/s 234A and 234B - adjustment of ...

Income Tax

September 2, 2021

Interest levied by Revenue u/s 234A and 234B - adjustment of cash seized with the tax-liability determined on assessment - the assessee cannot blame Revenue for its own faults in not keeping proper and true record of its own income. The onus and burden is on the assessee to file its return of income in time, which the assessee cannot shift to Revenue merely because an intervening event by way of search and seizure operations have taken place u/s 132(1) of the 1961 Act. - Relief granted for interest u/s 234B but not u/s 234A - AT

View Source

← Previous Next →

Interest levied by Revenue u/s 234A and 234B - adjustment of ...

Income Tax

September 2, 2021

You may also like:

Interest liability u/s 234A, 234B, 234C - Cash seized during the search - To be treated as Advance Tax or not - In this case, as ROI was filed, though after the search....

Interest u/s 234 B - Advance tax - Adjustment / Credit for cash as seized - there is no prohibition to adjust the seized cash with self assessment tax. What is...

Levying the interest u/s 234A and 234B up to the date of the assessment order u/s 147 - the interest under section 234A and 234B of the Act can be levied in the given...

Adjustment of cash seized during the search - AO to re-compute the tax liability - after adjusting the seized cash from the date of request made by the assessee - AT

Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...

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...

Interest u/s 234B and 234C - appellant has offered the cash seized as advance tax against the liability in block assessment - tribunal ought to have held the date of...

Adjustment of excess service tax paid with subsequent service tax liability - case of Revenue is that Rule 6 (3) of Service Tax Rules, 1994 do not provide for such...

It would be unfair and unjust to charge interest on the assessee u/s 234B of the Act, merely because, the seized cash was given credit on a later date by the ld. AO. It...

Interest u/s 234B – Tax liability due to retrospective amendment - failure to pay advance tax - no interest liability under section 234B - HC

Advance Tax - Interest - the assessee is entitled to adjustment of seized amount towards advance tax liability from the date of making the application in that regard -...

Reduction or waiver of interest charged under section 234A/234B/234C - Scope and Power

Levy of interest u/s 234A - cash amount seized at the premises of assessee at the time of raid - If an assessee has deposited higher amount of tax than returned tax...

Computation of interest u/s 234B - there is definite increase of tax liability from the regular assessment at the time of re-assessment - Tax paid u/s 140A was already...

Levy of Interest in terms of tax to be remitted by adjustment of credit available in the electronic register - Section 50 of the Central Goods and Services Tax Act, 2017...

Quick Updates: