Home Highlights February 2013 Year 2013 This

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1. 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...

2. Entitlement for waiver of interest u/s 220(2A) - petitioner has satisfied all the three conditions as enumerated under Section 220(2A) of the Act and therefore are...

3. 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...

4. Interest u/s 220(2) - assessee was required to pay interest u/s 220(2) as it had not initially satisfied the demand raised in 2003 - interest on refund is to be charged...

5. 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...

6. 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...

7. 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

8. 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...

9. 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...

10. Deduction u/s 80P(2)(a)(i) - the three conditions as provided under Section 5 (CVV) of the Banking Regulation Act, 1949, are to be satisfied cumulatively and except...

11. Levy of interest invoking Section 220(2) - The appellants and the company are two separate and distinct assessees. Further, the amount was demanded based on search...

12. Waiver of interest u/s 220(2) - There was total non-application of mind by the Settlement Commission on the crucial issue as to whether the assessee has fulfilled all...

13. 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...

14. Claim of interest on refund of "penalty amount and interest paid thereon" - Petitioner had paid interest on outstanding amount of penalty. On deletion of penalty,...

15. Waiver of interest u/s 220(2A) - three conditions namely, genuine hardship, circumstances beyond the control and co-operation in any enquiry relating to assessment or...