Home Highlights February 2014 Year 2014 This

You may also like:

1. Disallowance u/s 40(a)(ia) for non-deduction of tax at source (TDS) - assessee in default - Assessee has paid interest u/s 201(1A) for non-deduction/short deduction of...

2. Interest u/s 234B and 234C charged for default in payment of advance tax - assessee has submitted certificate from the Punjab National Bank that the cheques issued by...

3. Payment of Interest for Sales Tax Default - interest paid by the assessee to the sales tax department on arrears of sales tax/purchase tax was an admissible deduction - AT

4. Disallowance u/s 14A - Exempted income - proportionate disallowance of interest paid by the banks for investments made in tax free bonds/ securities which yield tax free...

5. The provisions of s. 221 providing for penalty payable when tax is in default applies to both the situations, i.e., when assessee is in default in respect of the...

6. Assessee in default - TDS u/s 194A - interest paid/credited to its customers - Interest other than interest on securities - In order to treat a person as assessee in...

7. Waiver of interest - interest liability should be computed from the last date for payment of tax in the relevant assessment year up to the date of payment at the same...

8. Penalty levied u/s 221 - default on the part of assessee or deeming the assessee to be an assessee on default - Failure to collect tax u/s 206C while selling timber -...

9. Levy of penalty u/s. 221 - default the payment of TDS to the government - assessee in default - the Assessing Officer levied penalty at very exorbitant rate that 5% pm...

10. Levy of penalty - tax and interest imposed by the petitioner- Assistant Commissioner Commercial Tax has been upheld - Form-C found to be fake and forged - The penalty...

11. Demand u/s 201(1) - assessee in default - Period of limitation - the limitation prescribed for passing orders under Section 201(1) of the Act deeming a person to be an...

12. Penalty u/s 221 r.w.s. 140A - default of non-payment of taxes on due date - Provisions of Section 140A (3) can apply only when there is a self-assessment tax payable...

13. Recovery of interest payable on delayed payment of tax - Since tax was paid by the petitioner belatedly, petitioner is liable to interest during the period default....

14. Liability to pay interest on delayed payment of VAT - The assessee was required to pay the tax payable in accordance with the provisions of Section 14 of the HVAT Act...

15. Levy of penalty u/s 271(1)(b) - failure to comply with notices u/s 142(1)/143(2) - it is not mentioned in the penalty order as to for which default of notice penalty has...