2015 (3) TMI 110 - DELHI HIGH COURT
CIT Versus Engineers India Ltd.
Entitlement to interest under Section 244A on refund - excess self-assessment tax paid under Section 140A - Held that - There cannot be a general rule that whenever a refund of income tax paid in excess is to be made, the Revenue must necessarily pay.....
2015 (2) TMI 409 - PUNJAB & HARYANA HIGH COURT
M/s Kudos Chemie Limited, Chandigarh Versus Commissioner of Income Tax, Chandigarh and another
Reduction of penalty levied under section 140A(3) - Tribunal restored the assessee's exigibility to penalty, but while doing so, has reduced the quantum of penalty to ₹ 10 lacs for each financial year - Held that - Tribunal reduced the quan.....
2015 (1) TMI 14 - GUJARAT HIGH COURT
COMMISSIONER OF INCOME TAX AHMEDABAD III Versus RAVI HANSRAJ GOUTHI (HUF)
Deletion of penalty u/s 140A(3) r.w. Section 221 failure to pay advance tax - Whether the Tribunal was justified in analyzing the accounts of the assessee as on 31st December 2006 and coming to the conclusion that the assessee had incurred huge losse.....
2014 (12) TMI 855 - DELHI HIGH COURT
Commissioner of Income Tax-VIII Versus Naresh Kumar Jaggi
Restriction of penalty imposed u/s 140A(3) to 25 - Held that - Assessee has earned substantial income in the year but he did not pay the due tax within the stipulated time after service of demand notice - assessee paid the admitted tax by 28.04.2011 .....
2014 (12) TMI 431 - ITAT HYDERABAD
M/s. Satabisha Biotech Pvt. Ltd. And Others Versus Income-tax Officer
Addition u/s 69 Allowability of expenses as cost of acquisition development Held that - Following the decision in M/s. Manas Greenland Pvt. Ltd., Hyderabad Versus Income Tax Officer (OSD) 2014 (12) TMI 399 - ITAT HYDERABAD the CIT(A) rightly of the v.....
2014 (8) TMI 971 - PUNJAB & HARYANA HIGH COURT
Commissioner of Income Tax, Chandigarh II Versus M/s Punjab Chemical and Crop Protection Limited, Chandigarh
Interest under section 244A(1)(b) - ITAT treating the tax paid on self-assessment as prepaid tax for the purpose of interest - Held that - In so far as the nature of payment of tax is concerned, the tax deducted at source, advance tax and also tax pa.....
2014 (8) TMI 483 - ITAT LUCKNOW
ASSTT COMMISSIONER OF INCOME TAX-6 KANPUR Versus M/s SHRI SHAKTI CREDITS LTD
Penalty u/s 140A(3) Tax liability not paid but admitted - tax was paid while filing revised return u/s 139(5) - Held that - When the return is filed u/s 139 of the Act and if any assessee fails to pay the whole or any part of such tax or interest or .....
2014 (11) TMI 6 - ITAT COCHIN
Hope Micro Credit Finance (P.) Ltd. Versus Assistant Commissioner of Income-tax, Circle-1, Palakkad
Levy of penalty u/s 221 r.w. Section 140A(3) Held that - The assessee is liable to pay the admitted tax for AY 2012-13 as per the return filed by the assessee - The assessee failed to pay this amount even after giving notice to the assessee vide noti.....
2014 (6) TMI 836 - ITAT MUMBAI
M/s PN WRITER & CO PVT LTD Versus ASSTT COMMISSIONER OF INCOME TAX
Disallowance of interest Applicability of Rule 8D of the Rules Investment in shares Held that - CIT(A) was of the view that a disallowance has to be made in accordance with the provisions of rule 8D(2)(iii) - nothing is borne out from the record that.....
2014 (5) TMI 1 - ITAT AHMEDABAD
ACIT, Circle-6, Ahmedabad Versus Shri Ravi Hansraj Gouthi (HUF)
Deletion of penalty u/s 140A(3) of the Act Self assessment tax not paid Assessee took a contention that due to losses, no funds was available to make the payment - Held that - As per the order/intimation made u/s 143(1) the due date of filing of retu.....
2014 (5) TMI 927 - ITAT DELHI
Naresh Kumar Jaggi Versus ACIT, CC-11, New Delhi
Restriction of penalty u/s 140A(3) of the Act Unpaid amount after expiry of period in demand notice Held that - CIT(A) has rightly determined the appeal to restrict the penalty at 25 tax liability of the assessee and gave relief of 75 of the tax liab.....
2013 (10) TMI 831 - ITAT MUMBAI
Diamondstar Exports Ltd. Versus ITO WD 8(1) (3) Mumbai
Penalty u/s. 221(1) r.w. Section 140A (3) assessee in default - Held that - Assessee did not file any reply before the AO and before the FAA it submitted that because of the mistake committed by the members of the staff tax could not be in time - FAA.....
2013 (6) TMI 630 - ITAT MUMBAI
Assistant Commissioner of Income Tax Versus M/s Videsh Sanchar Nigam Ltd. Lokmanya Videsh Sanchar Bhavan
Interest under section 234B - defaults in payment of advance tax - AO excluded not only the interest u/s 234C included in the self assessment tax but also the interest chargeable from 1.4.98 to 30.11.98 from the sum of Rs. 81.30 crore - Held that - A.....
2013 (5) TMI 640 - ITAT MUMBAI
Charbhuja Industries P. Ltd. C/o DC. Jain & Co. Versus The ACIT 2(1), Mumbai
Penalty u/s. 271(1)(c) - non entitlement for exemption u/s. 10B - assessee submitted that the Chartered Accountant of the assessee company while issuing the certificate in support of the book profits u/s. 115JB erroneously deducted the exempt income .....
2013 (11) TMI 819 - PUNJAB & HARYANA HIGH COURT
The Commissioner of Income Tax Versus Pure Drinks (New Delhi) Ltd.
Assessee in default u/s 140A(3) Penalty for non payment of self assessment tax - Held that - Tribunal has returned a finding that though the stand of the assessee was lack of liquidity of funds, but in view of communication dated 22/25.03.1985 that t.....