Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights March 2015 Year 2015 This

The assessee has been granted interest under section 244A of the ...


Taxpayer's Bid to Expand Section 154 Denied; Section 244A Interest Calculation Unchallenged.

March 19, 2015

Case Laws     Income Tax     AT

The assessee has been granted interest under section 244A of the Income-tax Act as due to him and the calculation of the interest was not disputed by the assessee. The assessee cannot widen the scope of the provisions of section 154 by putting various debatable issues - AT

View Source

 


 

You may also like:

  1. CBIC clarifies procedure for departmental appeals regarding interest/penalty under Section 128A of CGST Act. Where taxpayers have fully paid tax demands under Section 73...

  2. In cases where tax has been fully paid under Section 73 of CGST Act, and departmental appeals are solely related to interest or penalty calculations, the tax authority...

  3. The ITAT Pune ruled on interest income from land acquisition and fixed deposits. Interest u/s 28 of Land Acquisition Act is not taxable based on Bombay High Court...

  4. The High Court held that the interest on a money award is to be calculated at three times the RBI-notified rates with monthly compounding, fluctuating along with RBI...

  5. HC rejected the applicant's claim for compound interest under s.244A(1)(b) r.w.s.132B(4)(b), which explicitly provides only for simple interest. The Court clarified that...

  6. The AT upheld SEBI's discretion to levy interest on outstanding registration fees as per Regulation 5 of Schedule-III of Stockbrokers Regulations, 2002, which...

  7. ITAT held that mere presence of PE in India does not automatically disqualify special tax treatment under Article 11(2) of India-Japan DTAA for interest income from...

  8. Demand of interest u/s 50 - default in filing the Return - The High court acknowledged that while the liability to pay interest is automatic, the quantification cannot...

  9. Interest on delayed Refund of excess Customs Duty paid - Evidently, the Learned Commissioner has taken the date of receipt of Final Order of the Tribunal as the relevant...

  10. ITAT affirmed CIT(A)'s directive to grant TDS credit per Form 26AS despite taxpayer's initial failure to claim full credit in tax return due to software technical issues....

  11. Disallowance of bad debts written off - Admittedly, the provision was created by the assessee in the earlier year out of the profit and loss account. Thus, any...

  12. Tax authority rejected rectification application filed by taxpayer for zero-rated supply citing violation of principles of natural justice. Court examined impugned...

  13. Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

  14. Bad debts in respect of chit groups - Bad debts can be allowed to the extent of instalments defaulted by the prized subscribers and written off as bad debt - AT

  15. This case deals with the validity of a declaration under the Voluntary Compliance Encouragement Scheme (VCES) for service tax dues. The taxpayer was issued a show cause...

 

Quick Updates:Latest Updates