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 October 2016 Year 2016 This

Levy of interest u/s 234A - cash amount seized at the premises ...


Interest u/s 234A Not Applicable if Tax Paid Exceeds Revenue's Acknowledged Amount, Court Rules on Seized Cash Case.

October 24, 2016

Case Laws     Income Tax     HC

Levy of interest u/s 234A - cash amount seized at the premises of assessee at the time of raid - If an assessee has deposited higher amount of tax than returned tax accepted by Revenue, the question of levy of interest u/s 234-A would not arise. - HC

View Source

 


 

You may also like:

  1. The appeal was made regarding the incorrect charge of interest u/s 234B of the Act in an order passed u/ss 254, 143(3), and 153A. The issue was whether the assessee...

  2. The Income Tax Settlement Commission passed an order charging interest u/ss 234A, 234B, and 234C of the Income Tax Act. The petitioners challenged the order's...

  3. Interest u/s 234A - late filing of return - tax was paid before the due date - assessee must be held to be liable to pay interest under section 234A of the Act on the...

  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. Computation of interest u/s 234A - if the assessee deposits the taxes at a date at which the interest liability u/s 234A, does not exceed Rs. 1 lakh, such an assessee is...

  6. Interest levied by Revenue u/s 234A and 234B - adjustment of cash seized with the tax-liability determined on assessment - the assessee cannot blame Revenue for its own...

  7. The High Court held that u/s 54 of the Goods and Services Tax Act, 2017, when the input tax credit paid is higher than the output tax, the dealer is entitled to seek a...

  8. Interest Liability u/s 234B - settlement of case u/s 245D(4) - Levy of interest on tax on additional income offered without providing the set off of the prepaid taxes...

  9. Applicability of section 234A - Late filing of return or non filing of return where tax has been paid earlier - Interest can not be levied u/s 234A - HC

  10. 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...

  11. The Income Tax Appellate Tribunal held that if there are bona fide reasons for deducting lower tax in the earlier months of the financial year, and the shortfall is...

  12. 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...

  13. Levying the interest u/s 234A and 234B up to the date of the assessment order u/s 147 - the interest under section 234A and 234B of the Act can be levied in the given...

  14. Refund claim towards excess custom duty paid - same amount paid twice through oversight and bonafide mistake - The petitioner is entitled to get refund along with...

  15. Interest liability - seeking waiver of interest since the payment of service tax was paid under the amnesty scheme - The tribunal observed that the appellant's payment...

 

Quick Updates:Latest Updates