Home Highlights July 2012 Year 2012 This

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1. Interest expenditure - assessee had availed loan at the interest rate of 12% p.a., whereas, it has advanced loan to a sister concern by charging 9% interest p.a - The...

2. Entitled to registration u/s 12AA and approval under Section 80G - Allegation of charging higher rate of interest from the self help groups in the name of charitable...

3. Refund claim alongwith interest - AO did not accept the VAT returns - it is mandatory that a notice u/s 74(8) of the DVAT Act is issued for triggering the deeming...

4. Revision of order - Section 74A of the DVAT Act - Entitlement to interest u/s 42 of the DVAT Act - delayed grant of refund - notice uploaded on the Petitioner’s Web ID...

5. Levy of interest u/s 234B - The mandatory nature of charging of interest and the actual charging of interest by application of mind and the mention of the proviso of law...

6. Reopening of assessment - time limitation - DVAT Act - Revenue has sought to make no distinction between the liability under the DVAT and that under the CST Act. In...

7. Benefit of the VSV Act - The disputed interest is defined under Sub Clause h (ii) of Sub Section 1 of Section 2 to mean “the interest determined in any case under the...

8. Charging interest u/s 234A, 234B and 234C - late filing of return of income - CIT(A) was not right in levying interest under Section 234A of the Act when the return was...

9. Disallowance of claim of interest expenses u/s. 57(iii) - The Assessing Officer (AO) had disallowed a portion of the interest expenses based on the difference between...

10. Disallowance of interest u/s 36(1)(iii) towards interest expenditure - allegation that assessee company diverted its “interest bearing funds” for giving “interest free...

11. Transfer Pricing Adjustment - Adjustment on account of notional interest on the receivables - when the assessee is having their own funds and not paying interest on any...

12. Interest pertaining to non-performing assets - Reversal of income - it is not CBDT which has issued circulars or guidelines under Section 119 of the Act. On the other...

13. Interest expenditure has been expended to earn interest income. Sec. 56 does not postulate any condition about the rate of charging interest. The appellant explained the...

14. Construction of residential complex - It appeared to Revenue that the appellant is also collecting one time Preferential Location Charges, Car Parking Charges, Club...

15. Waiving off the mandatory requirement of 'No Objection Certificate' from landlord for registration under the DVAT Act, 2004. - Circular