Home Highlights June 2014 Year 2014 This

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1. Disallowance u/s 37 of interest paid on delayed payment of additional Customs Duty was challenged, contending that it was not penal in nature but compensation for delay...

2. Addition u/s.56(2)(viii) - interest for delayed payment of compensation under the Land Acquisition Act - interest received by the assessee towards delayed payment of...

3. Interest paid on late payment of TDS - allowable deduction u/s 37(1) or not? - Interest on delayed payment of TDS cannot be allowed as deduction. - The interest...

4. Interest u/s 214 and 244 - Interest on interest for late grant of refund - it is only that interest provided for under the statute which may be claimed by an assessee...

5. Section 214 does not provide for payment of compensation by the Revenue to the assessee in whose favour a refund order has been passed - SC

6. Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

7. Deduction u/s 37(1) - Whether, payment of interest on delayed payment of instalments is penal in nature - Held No - It was simplicitor liability of interest on delayed...

8. The assessee claimed deduction for interest and late fees paid on account of delay in filing GST returns. The authorities disallowed the claim, invoking Explanation 1 to...

9. Claim of interest on delayed refund, from the date of deposit till the refund of the pre-deposit of principal amount - the assessee is entitled to claim interest from...

10. Enhanced Compensation – Interest on enhanced compensation - Waiver of Interest - assessee was entitled for waiver of interest till the date of receipt of enhanced...

11. CENVAT Credit - exempt service or not - amount of interest received by the appellant on the delayed payment of the amount of consideration received from the sale of...

12. Transfer pricing adjustment made because of interest charged on delayed receivables - As before the TPO the assessee had furnished certain evidences including the bank...

13. Compensation/ additional sum received for delay in payment of proceeds of shares tendered under the open offer - the reason for increasing the offer by the said sum may...

14. Interest u/s 244A - The rectification order dated 31.07.2020 having failed to calculate interest u/s 244A (which is automatic unless delay is attributable to assessee’s...

15. Additions as interest income - compensation received by the assessee - As the business of assessee was set up and had started and there was huge investment made by...