Home Highlights August 2012 Year 2012 This

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1. Adjustment of Income tax Refund - Recovery of outstanding secured debts - recovery of service tax - priority of claims - n view of Sec.31-B of the Recovery of Debts and...

2. Doctrine of constitutional priority - Supremecy of attachment passed by the Tax Recovery Officer / Income Tax Department or to the mortgage created in favour of the...

3. Recovery proceedings of tax dues - preferential right - secured creditors - Income Tax Department’s preferential right to recovery of debts over other creditors is...

4. Levy of interest u/s 220(2) - such cash seized/ offered to settle the cash liability, should have been accepted and assessee should be deemed to have made the payment...

5. Abatement of reference proceedings occurs where secured creditors take measures to recover secured debt under SARFAESI Act. Third proviso to Section 15(1) of SICA...

6. Priority of secured creditors under the SARFAESI Act over claims by the Income Tax Department. The respondent mortgaged the property to the petitioner in 2013-14, prior...

7. Recovery of sales tax dues - encumbered property or not - liability of auction purchasers - this is a clear case in which the Sales Tax Department had a charge on the...

8. Attachment of bank accounts - Recovery of outstanding tax demands - Petition for stay of taxes - Applications under Section 154 are pending - recovery proceedings along...

9. Recovery of service tax - Recovery before adjudication of upon the matter and fixed the quantum of service tax - the recovery which is being made that smacks with...

10. Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

11. Recovery of dues u/s 179(1) - seeking recovery of unpaid tax of the said company and penalty under section 271(1)(c) of the Act of the same company from the director - A...

12. Once the provisions of Section 220 of the Income Tax Act are incorporated in Section 28A, full effect must be given to Section 220 of the Income Tax Act for recovery of...

13. Disallowance interest on delayed payment of service tax - It is well settled principle that interest on late payment of Service Tax is not penal in nature. Since, it is...

14. Levy of penalty - payment of service tax and interest before issuance of SCN - Sub-section 3 of section 73 of the Act, prohibits initiation of proceedings for recovery...

15. Liability to pay interest u/s 234B - In the light of legal position as it existed for the relevant Assessment Years prior to insertion of proviso to Section 209(1) of...