Deleting penalty u/s 13 of Interest Tax Act. 1974 - ‘bill ...

Case Laws Income Tax

July 12, 2012

Deleting penalty u/s 13 of Interest Tax Act. 1974 - ‘bill discounting charges’ have to be computed and included in interest - Penalty levied - This is not the case of a bonafide, honest or even plausible different interpretation. - penalty confirmed - HC

View Source

← Previous Next →

Deleting penalty u/s 13 of Interest Tax Act. 1974 - ‘bill ...

Case Laws Income Tax

July 12, 2012

You may also like:

Interest u/s 2(28A) - Taxability and TDS u/s 195 - discounting bills of exchange and promissory note - discounting charges did not amount to interest and was not subject...

TDS liability - Factoring/discounting charges cannot be treated as interest for the purpose of 194A - HC

Levy of service tax on bill discounting facility - collection of interest, against bill discounting facility - this activity is exempted from service tax - AT

Rule 6(A) requires filing separate appeals for each order-in-original. In a case involving multiple Bills of Entry, if a common order-in-appeal disposed of appeals...

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...

Valuation of imported goods - inclusion of the miscellaneous charges which were indicated in the invoices - Learned Counsel has demonstrated before us that they were...

Discount versus commission - ‘Marketing Expenses’ including ‘Incentive and Discount’ - TDS u/s 194H - AT

The assessee failed to demonstrate that the financial assistance availed on interest was utilized for business purposes without diversion. Where an assessee has...

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...

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

The ITAT reviewed a case regarding the exemption u/s 11 of the Act concerning non-charging of interest on advances for property purchase. The Assessee's society extended...

Quantification of GST / Valuation of supply - GST on whole amount of bill (monthly rental + night charges + fuel on mileage basis) or only on monthly rental (excluding...

Levy of penalty u/s 271(1)(c) - ITAT deleted the penalty - Additions u/s 41(1) - one time settlement with the SBI - Bank has waived a sum including interest - assessee...

GPF and SDS Interest Rates Revised for the Financial Year 2012-13.

Levy of service tax - activity of bill discounting - The benefit of the exemption will be available whether the consideration is described as interest or discount - AT

Quick Updates: