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AO cannot re-open assessment merely for non filing of ITR unless the total income is exceeding maximum amount which is not chargeable to tax    *    GLOW SIGN AND HOARDING    *    Service tax exemption for transportation of life saving medicines    *    Regarding cenvat credit on service tax on rent a cab    *    Applicability Of Service tax on Liquidated Damages    *    Potato Chips as Namkeen    *    Central Excise Exemption of ₹ 150 Lakhs    *    Cenvat credit on water treatment plant    *    CENVAT CREDIT    *    Cenvat Credit - refund - export of services - The registration is not the sole criteria for granting refund, so long the other conditions are satisfied, refund shall be granted - Tri    *    CENVAT credit demo cars capital goods input nothing is demonstrated today that a demo car falls in any of the Chapters dealing with capital goods - credit cannot be allowed - Tri    *    Period of limitation - in case duty was required to be paid on the strips, the appellant was entitled to avail credit of duty paid on the granules, which would have neutralized the entire demand on the strips - in this Revenue neutrally background, there could be no malafide on the part of the appellant to evade duty - Tri    *    Validity of statutory provisions - Imposition of penalty on company and directors - he legislature while in view of such situation has granted discretion to the executive, at the same time, provided for sufficient guidelines and safeguards so that such discretion does not convert into arbitrary or discretionary exercise of powers - HC    *    Strengthening Our Debt Markets (Dr. Raghuram G. Rajan, Governor - August 26, 2016 - at Annual Day Address to Foreign Exchange Dealers Association of India, Mumbai)    *    Violation of Clause 49 of the Listing Agreement - whole Time Director chaired the Audit Committee Meeting - levy of penalty of ₹ 5 lac cannot be said to unreasonable or excessive - SAT    *    Tribunal was right in confirming the set-off of MAT Credit under Section 115JAA brought forward from earlier years against tax on total income including surcharge and education cess instead of adjusting the same from tax on total income before charging such surcharge and education cess - HC    *    TDS liability - period of limitation - It is true that the Court cannot legislate the Act, however, the Assessing Officer also cannot be given unfettered powers, which he can exercise even beyond the reasonable period of four years. - HC    *    Waiver or reduction of interest - Application u/s 220(2A) - It has also to be verified whether the default in payment of the amount was due to the circumstances beyond the control of the assessee and the assessee has cooperated with the enquiry. - CIT to reconsider the matter - HC    *    Merchandise Exports from India Scheme (MEIS) - Addition in Table 2 [containing ITC (HS) code wise list of products with reward rates] of Appendix 3B    *    Depreciation (while claiming deduction u/s.80IA) is optional to the assessee and that once the assessee chooses not to claim it, the AO cannot allow while computing the income. - HC    *    Streamlining the process of No Objection Certificate (NOC), Port Clearance Certificate (PCC), voyage return and voyage assessment in the case of Foreign Shipping Companies (FSCs)

Income Tax Case Laws - Section: 140A

Home Case Index Income Tax Sections List
Cases for Section: 140A
Showing 1 to 15 of 151 Records
 
  • 2016 (5) TMI 1169 - ITAT AMRITSAR

    Penalty levied u/s 221(1) - delay in payment of self assessment tax u/s 140A - Held that - From the analysis of provisions of section 140A(1), we find that the section requires that assessee is liable to pay taxes on the total income on the basis of ... ... ...


  • 2016 (2) TMI 755 - GUJARAT HIGH COURT

    Adjustment of refund of other firms as payment under section 140A in the case of the assessee for the purpose of charging interest - Held that - As is well known, the Income Tax Act provides detail provisions for granting interest on refund as well a... ... ...


  • 2016 (2) TMI 274 - KARNATAKA HIGH COURT

    Interest under Section 234A determined before taking notice of self assessment payment under Section 140A - Held that - In the absence of any statutory provision made for reducing such amount paid towards self assessment tax, the Authorities proceede... ... ...


  • 2016 (4) TMI 296 - ITAT MUMBAI

    Penalty under section 221 r.w.s. 140A(3) - levy the maximum penalty - Penalty payable when tax in default - Held that - Examination by the learned CIT(A) of the assessee s bank account, for the period under consideration, evidenced that the assessee ... ... ...


  • 2016 (2) TMI 302 - MADRAS HIGH COURT

    Penalty imposed u/s 221 (1) - self assessment tax under Section 140A remained payable - denial of natural justice - Held that - Considering the assessee s submission that the 1st respondent is erred in sustaining the levy of penalty under Section 221... ... ...


  • 2015 (9) TMI 608 - ITAT MUMBAI

    Exigibility to interest u/s.244A - refund of tax to the assessee for the relevant year - Held that - The Apex Court per its larger bench decisions in Modi Industries Ltd. (1995 (9) TMI 324 - SUPREME Court) and Gujarat Fluoro Chemicals (2013 (10) TMI ... ... ...


  • 2015 (9) TMI 1344 - ITAT MUMBAI

    Addition on un-reconciled professional receipts on the basis of difference between the information gathered from the Annual Information Report(AIR) and professional receipts declared as per books of account - Held that - We set-aside the order of the... ... ...


  • 2015 (12) TMI 345 - ITAT MUMBAI

    Validity of search conduced in the hands of the assessee under section 132 - Held that - We notice that the only reason on which the assessee is questioning the validity of search is that the search action has not resulted in unearthing of any incrim... ... ...


  • 2015 (10) TMI 1466 - ITAT CHENNAI

    Credit for foreign tax paid in Mauritius - whether should not be excluded while computing interest under section 234C? - whether the payment made by the assessee on 10.09.2004 in Mauritius can be considered as advance tax as was done by the assessee ... ... ...


  • 2015 (12) TMI 969 - MADRAS HIGH COURT

    Entitlement to interest under section 244A paid by them under section 140A - Held that - The entitlement of a person to interest on the refund arises out of substantive part of sub-section (1) of section 244A. Clauses (a) and (b) relate only to the m... ... ...


  • 2015 (8) TMI 876 - ITAT KOLKATA

    Explanation to section 73 - whether the main source of income of the assessee company was share trading and not income from other sources? - CIT(A) held that by virtue of main source of income of the assessee being Income from other sources explanati... ... ...


  • 2015 (8) TMI 603 - ITAT HYDERABAD

    Penalty under section 221(1) read with section 140A(3) - assessee companies had not paid either any advance tax or even self assessment tax before filing their returns of income nor even after issue of intimations under section 143(1) resulting into ... ... ...


  • 2015 (8) TMI 1023 - ITAT PUNE

    Penalty u/s.140A(3) r.w.s. 221 - assessee failed to pay self-assessment tax - CIT(A) deleted the addition admitting additional evidences - Held that - In the instant case it is an undisputed fact that the assessee did not appear before the Assessing ... ... ...


  • 2015 (6) TMI 322 - ITAT DELHI

    Penalty u/s 140A(3) - non payment of self assessment tax which was shown as payable in the return of income filed - CIT(A) deleted the penalty levy - Held that - No penalty notice was issued to the assessee u/s 221 of the Act and the penalty order wa... ... ...


  • 2015 (6) TMI 217 - KARNATAKA HIGH COURT

    Refund the excess amount paid with interest - Held that - The declaration of income furnished by the assessee under the revised return is declared to be invalid. In such circumstances, the provisions of self-assessment under Section 140-A of the Act,... ... ...


 
   
 
 
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