Levy of Interest - The respondent is not justified in levying ...

Case Laws VAT and Sales Tax

April 14, 2021

Levy of Interest - The respondent is not justified in levying interest from the original assessment year - In the case on hand, Rathna Residency is not the petitioner before this Court. It is only Rainbow Restaurant that is the petitioner before this Court. Rainbow Restaurant is contending that it cannot be considered as “a restaurant attached to a star hotel”. Thus the petitioner was under a bonefide impression that they are not liable to pay tax at a higher rate. Therefore, as per Section 42 of the Act, only from the date on which the petitioner's liability is quantified, the question of paying tax would arise. - HC

View Source

← Previous Next →

Levy of Interest - The respondent is not justified in levying ...

Case Laws VAT and Sales Tax

April 14, 2021

You may also like:

Interest levied u/s 234D - Interest levied in the regular assessment or re-assessment - the assessment framed under Section 143(3) read with Section 147 dated...

Assessment u/s 115JA - MAT - Levy of interest u/s 234B and 234C on retrospective levy of tax - Interest cannot be levied with retrospective effect - HC

Levy of Interest - the default arising on non-payment of tax on an admitted liability in the case of a self-assessment will attract an automatic levy of interest,...

Settlement of case - power of commission u/s 254F to rectify an order - levy of interest liability u/s 234B which was not levied in the original order - order of...

Assessment u/s 153A - In the case on hand, the search was conducted on 10.08.2017 and the relevant six assessment years immediately preceding the assessment year...

Protective assessment - no addition can be made in the hands of the assessee - the protective addition made in the hands of the assessee for these three assessment...

Late fee levied u/s 234E - delay in furnishing the tax deducted at source statement - Late fee under section 234B cannot be levied for a period up to 01/06/2015. In the...

Reopening of assessment u/s 147 - The High Court noted that the issue of disallowance under Section 14A of the Act had been thoroughly examined during the original...

TP Adjustment - Arms length price adjustment on account of interest on external commercial borrowings - the rate of interest has been accepted by the Assessing Officer...

Revision u/s 263 - Period of limitation - To be commenced from original assessment order or re-assessment order u/s 147 - In the case on hand, the jurisdiction under...

Interest u/s 158BFA(1) - the interest u/s 158BFA(1) should be charged upto the date of original assessment order, i.e., the expression “date of completion of assessment...

Introduction of block assessment provisions in cases of search u/s 132 and requisition u/s 132A for early finalization of search assessments, coordinated investigation,...

Interpretation of Statute - imposition of interest - The retrospective levy is not intended and the amendment in Law is a substantive provision for making a provision...

Levy of interest for assessment years prior to the introduction of the section 234D- Regular assessment was completed on 30 March 2004 the provision on interest is not...

Constitutional validity of levy of basic excise duty and NCCD, after coming into force of the Constitution (101st Amendment) Act, with effect from 01.07.2017 -...

Quick Updates: