Home Highlights January 2014 Year 2014 This

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1. Interest on refund - Where it is found that no refund has been granted pursuant to intimation u/s 143(1), the assessee shall be granted relief from such levy of interest...

2. Levy of interest u/s 220(2) - no complete setting aside of the Assessment Order - CBDT Circular No.334 dated 03/04/1982 - No fresh determination of the tax liability was...

3. Charging of interest u/s 220(2) - demand was raised first time - additions made in the rectification order passed u/s 154 - the rectification order itself cannot include...

4. Waiver of interest levied u/s 220(2) - Financial difficulty - it would be necessary for the 1st respondent to reconsider the matter regarding levy of interest under...

5. Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable...

6. Levy of interest u/s 220(2) - Revenue demanded interest on the amount refunded to the Assessee - The demand for interest raised by the AO is contrary to the Circular...

7. Levy of interest u/s 220(2) - Once the Tribunal’s order is vacated and the original order is revived, the original demand that remained unpaid also gets revived. -...

8. Interest u/s 220(2) - assessee was required to pay interest u/s 220(2) as it had not initially satisfied the demand raised in 2003 - interest on refund is to be charged...

9. Maintainability of appeal before CIT(A) against Levy of interest u/s 220(2) - enhanced assessment - AO directed that interest u/s 220(2) chargeable on the amount...

10. Waiver of Interest levied u/s 220(2) - this is not a case where the assessee had established that payment of interest would cause genuine hardship to him - HC

11. Grant of interest on refund of amount to the assessee u/s 244A - Interest u/s 220(2) - the finding recorded by the Commissioner as well as the Tribunal that the interest...

12. Waiver of interest u/s 220(2A) - Levy of interest is mandatory - Merely raising the dispute before any authority cannot be a ground not to levy the interest and/or...

13. 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,...

14. Levy of interest under section 220(2) - The period specified under section 220(1) has to be taken into consideration from the date of passing of the fresh assessment...

15. Prosecution against the Director u/s 276B - Principal officer of the Accused Company - Compliance u/s 2(35) - Punishable offence for non deduction of TDS - The mandatory...