Home Highlights February 2017 Year 2017 This

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1. Recovery of interest u/s 87 without issuance of SCN - in cases where duty has been paid belatedly and interest has not been paid, interest needs to be demanded and...

2. Time Limitation - demand of interest - even where no period of limitation is provided for recovery of interest, yet a reasonable period has to be read into the provision...

3. Recovery of cost recovery charges under Handling of Cargo in Customs Areas Regulations, 2009 is not sustainable due to lack of statutory mechanism and prescribed...

4. Demand of interest - the period of limitation that applies to a claim for the principal amount should also apply to the claim of interest thereon.

5. Demand of Interest - delayed payment of service tax - renting of immovable property services - the period of limitation would apply to the demand of interest.

6. Recovery of interest - extended period of Limitation u/s 11A – limitation period as prescribed in Section 11A would be applicable for recovery of interest also - AT

7. TP Adjustment - notional interest on outstanding receivables due from Associated Enterprises (AES) - assessee not charging any interest from its AEs - Treatment of...

8. Customs Cargo Service Provider (CCSP) - even by any stretch of imagination, HCCAR 2009 in respect of cost recovery charges is made applicable retrospectively, even than...

9. Levy of interest - Even if any provision of law is mandatory and provides for charging of tax or interest - Such charge by the assessing officer should be specific and...

10. 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...

11. Price variation clause - applicability of period of limitation on demand of Interest under central excise - AT

12. 100% EOU - Demand of Differential Cost Recovery Charges paid - Claim of refund of excess MOT charges paid - the finding of the Commissioner is factually wrong - Demand...

13. Limitation Period u/s 11-A - As the period of limitation that applies to recovery of the principal amount shall also apply to the claim for interest thereon, the demand...

14. TP adjustment - notional interest - short term advances made by the assessee to its associated enterprises - The assessee being unable to establish with evidence the...

15. 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...