Liability of interest - If an assessee fails to file correct ...

Case Laws VAT and Sales Tax

April 2, 2022

Liability of interest - If an assessee fails to file correct returns and furnish required documents, the interest of the revenue cannot compromised. An assessee/dealer cannot take advantage of the lapses committed at a later point of time if subsequently it is found that the turn-over had escaped resulting in evasion of tax by such an assessee/dealer. - If there is a failure to tax in time, the dealers are required to pay interest as payment of Interest is consequential. - HC

View Source

← Previous Next →

Liability of interest - If an assessee fails to file correct ...

Case Laws VAT and Sales Tax

April 2, 2022

You may also like:

Adjustment made to the income returned in the intimation made by the CPC u/s 143(1) - exemption u/s 11/12 denied as assessee had failed to furnish the necessary Form 10B...

Penalty levied u/s 271F - assessee had failed to furnish return of income within due date - from the submission of assessee, we find that the assessee has a reasonable...

Interest liability - delay in furnishing GSTR-3B return - Liability imposed without any adjudication proceeding u/s 73 or 74 - despite disputing the liability towards...

Levy of penalty u/s. 271B - default in furnishing of Tax Audit Report - In section 271B of the Act, the only requirement is to get the accounts of assessee audited or...

Claim of expenditure in the revised return - Once, the assessee has realized that the claim was wrongly not made, the assessee has every right to revise the return...

Reopening of assessment u/s 147 - failure to file the ITR - while filing a return an assessee is not bound or obliged to disclose any information in relation to any fact...

Penalty u/s 271F - failure to furnish return of income (ITR) - the assessee’s total income without giving effect to the provision of section 54 come to ₹...

Deduction u/s. 80(P)(2)(a)(i) - Due date for filing the return of income u/s 139(1) - The assessee cannot be denied deduction under Section 80P(2)(a)(i) of the Act if...

Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

Claim of deduction u/s 80IC - Where, on the filing of the revised return the error was corrected, the assessee cannot be said to have not fulfilled the provisions of...

Penalty u/s 271F - Failure to file the ITR before the due date - No doubt, the assessee has failed to furnish the return of income u/s 139(1) of the Act, but when the...

Deduction u/s 80IC - manufacturing of plastic packaging products such as PET and HDPE bottles, jars, caps and closures - products manufactured by the assessee come...

Penalty u/s 272A(2)(k) - assessee did not file its quarterly TDS returns within the prescribed time limit and there was a delay - In the given case, the assessee did not...

Deduction towards additional service tax liability - since the assessee is not aware of the expenses of the liability before filing of the return of income and also...

Quick Updates: