Interest on amount in P.D. account – The amount adjusted was ...

Case Laws Income Tax

November 29, 2013

Interest on amount in P.D. account – The amount adjusted was lying in P.D. Account of Commissioner of Income Tax (Appeals) - revenue directed to pay the interest on the remaining amount u/s 244A - HC

View Source

← Previous Next →

Interest on amount in P.D. account – The amount adjusted was ...

Case Laws Income Tax

November 29, 2013

You may also like:

When calculating interest u/s 244A(1), if a refund is granted earlier, it should be adjusted against the interest component first, and the remaining amount, if any,...

Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

The assessee claimed additional interest u/s 244A(1A) for the delayed refund. The AO incorrectly adjusted the refund against the tax component instead of first adjusting...

The Income Tax Appellate Tribunal held that the refund granted to the assessee should be first adjusted against the correct amount of interest due, and the remaining...

Interest payable u/s 244A(1) - the matter is remanded to the CIT(A) to consider whether under explanation to Section 140A(1), it is stipulated where the amount paid by...

Stay orders - Recovery proceedings - The amount recovered from petitioner over and above the amount as per instructions, memoranda, circular towards demand of tax for...

Adjust of sale proceeds of goods auctioned - Seized goods could not be cleared due to financial difficulty - Appeal were pending - The respondent/revenue, having sold...

DTVSV Act - in a case where the Appeal is filed by the Income Tax authority, the amount payable shall be one-half of the amount calculated - whether Petitioner is...

Interest u/s 244A on self assessment tax payment - AO directed to re-compute the amount of interest u/s. 244A by first adjusting the amount of refund already granted...

Requirement of pre-deposit towards compliance with proviso to Section 43 (5) of RERA - liability of Appellant to pay interest is not in praesenti but in future -...

The appellants challenged the order of the Commissioner (Appeals) denying eligible interest on the refunded amount. The court held that interest accrued on the deposited...

Demand of differential duty - Revenue adjusted rebate (refund) from Unit II towards interest due from Unit I - the rebate cannot be adjusted towards the interest due of...

Computation of the interest on refund u/s 244A - the judicial proprietary demands that order of the Tribunal of earlier years must be followed and therefore we direct...

Nature of Interest income - first ground of appeal of the assessee for treating expenses to the amount as revenue expenditure is dismissed. However, the alternative...

Interest u/s.244A - AO directed to re-compute the amount of interest u/s. 244A by first adjusting the amount of refund already granted towards the interest component and...

Quick Updates: