Home Highlights July 2014 Year 2014 This

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1. Rejection of request for waiver of interest while granting immunity from penalty and prosecution - order of Settlement Commission - the liability of the Petitioner to...

2. Application for settlement of cases - High Court has observed that, the assessment order for A.Ys. 2013-14 to 2019-20 could not have been passed as the application filed...

3. 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...

4. Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...

5. 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

6. 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...

7. Reopening of assessment u/s 147 - bogus accommodation entries receipts - What perplexes us as much as the assessee was perplexed is how can a company provide bogus entry...

8. 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...

9. Waiver of interest u/s 220(2A) - The first respondent under the impugned order has granted partial waiver of interest to the petitioner at 20% without giving any reason...

10. 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...

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. Maintainability of application before Settlement Commission - A person who may not be an Importer or Exporter, can still file such an application u/s 127-B of the Act...

13. Interest demand u/s 220(2A) - petitioner had delayed in paying the interest under Sections 234A, 234B and 234C - Earlier, the application for waiver of interest was...

14. Validity of order of Settlement Commission - acceptance of additional income disclosed by the assessee - Petitioner/Income Tax authority could not make out any...

15. 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...