Home Highlights March 2013 Year 2013 This

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1. Refund claim - Adjustment of amount against outstanding demand - Refunds have been adjusted against the outstanding tax demand by the Authority without following the...

2. Refund of adjustments made in excess of 20% of the disputed tax demands - s per mandate of law as well as the fact that refunds have been adjusted against outstanding...

3. Misuse of PAN - Rival group has been using the same Permanent Account Number (PAN) - Under the Income Tax Act, 1961 only one Permanent Account Number is issued to an...

4. Defaulter under the SVLDRS scheme or not - failure to pay the amount mentioned in SVLDRS-3 in time - Seeking adjustment of refund under Income Tax with amount payable...

5. Adjustment of refund claim (rebate claim on export of goods) with demand stayed by the CESTAT

6. MAT computation - Book Profit - addition of interest on income tax refund to the Net Profit - As there is no dispute on the fact that assessee has offered interest on...

7. Taxability of income - Characterization of receipts - software sub-licence fee - the income in dispute, since can be classified under other Articles of the tax treaty,...

8. Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

9. Set off and withholding of refunds u/s 245 - Adjustment of refund amount with the demand of tax for the subsequent years - petitioner has agreed that, against the refund...

10. Refund adjustments against disputed tax demands - Non invoking Section 245 - no notice or opportunity of pre-decisional hearing had been provided to the petitioner prior...

11. Demand of interest - assessee sought adjustment of refunds due to the petitioner against the outstanding demands u/s 245 - Revenue directed to adjust the refund with the...

12. Levy of penalty u/s 270A - Failure to offer the interest on income tax refund subject to tax - the explanation of the assessee for not offering the interest on income...

13. Interest free advances given by the assessee to its group concerns - the assessee and its group concerns were paying the taxes at the maximum marginal rate as evident...

14. Adjustment of excess paid service tax - assessee has not collected service tax from the customer and therefore not passed on the tax burden to another. This being the...

15. Adjustment of excess service tax paid with subsequent service tax liability - case of Revenue is that Rule 6 (3) of Service Tax Rules, 1994 do not provide for such...