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Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Interest u/s 234B and 234C - In the scheme of demerger, it was ...

Income Tax

November 23, 2015

Interest u/s 234B and 234C - In the scheme of demerger, it was not possible for the assessee to estimate the income and pay the advance tax as the scheme was approved after the close of the financial year. - No interest - AT

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  3. Interest under section 234B - defaults in payment of advance tax - exclusion of interest u/s 234C included in the self assessment tax - AT

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  5. Assessee was liable to pay interest u/s 234B and 234C of the Act in respect of tax determined on the basis of Section 115JA - HC

  6. Interest u/s 234B – Tax liability due to retrospective amendment - failure to pay advance tax - no interest liability under section 234B - HC

  7. Reduction or waiver of interest charged under section 234A/234B/234C - Scope and Power

  8. Refusal to waive interest u/s 234A, 234B and 234C - disallowance for want of deduction of tax at source u/s 40(a)(ia) - interest cannot be waived - HC

  9. Assessment u/s 115JA - MAT - Levy of interest u/s 234B and 234C on retrospective levy of tax - Interest cannot be levied with retrospective effect - HC

  10. Levy of interest u/s 234C - When advance tax paid is refunded and also interest paid under section 234B, there is no logic in making the assessee liable for interest...

 

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