Home Highlights March 2018 Year 2018 This

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1. Computation of interest under Section 220(2) - Payment of tax on the undisclosed income relating to the block period - Whether surcharge at 15% under Section 113 of the...

2. 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

3. Waiver or reduction of interest u/ss 234A, 234B and 234C - rejection of one's legal contention cannot be characterised as an unavoidable circumstance - If adverse...

4. 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...

5. 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...

6. 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...

7. 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...

8. 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...

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. Levy of interest u/s 220(2) - no complete setting aside of the Assessment Order - CBDT Circular No.334 dated 03/04/1982 - No fresh determination of the tax liability was...

11. Maintainability of appeal before CIT(A) against Levy of interest u/s 220(2) - enhanced assessment - AO directed that interest u/s 220(2) chargeable on the amount...

12. 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,...

13. Interest liability - Provisional assessment - interest is not payable if assessee pays the duty before finalisation - AT

14. 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...

15. 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...