Interest levied by Revenue u/s 234A and 234B - adjustment of ...

Taxpayer Must File Timely Returns Despite Search; Interest Under Sec 234A Levied, Relief Granted for Sec 234B.

September 2, 2021

Case Laws Income Tax AT

Interest levied by Revenue u/s 234A and 234B - adjustment of cash seized with the tax-liability determined on assessment - the assessee cannot blame Revenue for its own faults in not keeping proper and true record of its own income. The onus and burden is on the assessee to file its return of income in time, which the assessee cannot shift to Revenue merely because an intervening event by way of search and seizure operations have taken place u/s 132(1) of the 1961 Act. - Relief granted for interest u/s 234B but not u/s 234A - AT

View Source

← Previous Next →

Interest levied by Revenue u/s 234A and 234B - adjustment of ...

Taxpayer Must File Timely Returns Despite Search; Interest Under Sec 234A Levied, Relief Granted for Sec 234B.

September 2, 2021

Case Laws Income Tax AT

You may also like:

Charging interest u/s 234A, 234B and 234C - late filing of return of income - CIT(A) was not right in levying interest under Section 234A of the Act when the return was...

Applicability of section 234A - Late filing of return or non filing of return where tax has been paid earlier - Interest can not be levied u/s 234A - HC

Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

Waiver of interest u/s 234A, 234B and 234C - marginal delay in filing the returns - The petitioner sought relief based on the timing of filing returns after receiving...

Exempt dividend income treated as taxable, increasing total income - claim denied by processing return u/s 143(1). Assessee filed rectification application u/s 154...

The Income Tax Settlement Commission passed an order charging interest u/ss 234A, 234B, and 234C of the Income Tax Act. The petitioners challenged the order's...

CBIC clarifies procedure for departmental appeals regarding interest/penalty under Section 128A of CGST Act. Where taxpayers have fully paid tax demands under Section 73...

Extension of last date for filing GST returns by taxpayers in Kerala, Mahe and Kodagu extended

The High Court rejected the condonation of delay in filing income tax returns, as the returns were handled by a Chartered Accountant who could not take timely steps due...

Excess interest levied u/s 234A - due date of return 15.10.2010 - Date of tax deposited 24.3.2014 - Date of voluntary return filed 7-5-2014 - filing of return in...

Interest u/s 234A(1) or as per Sec. 234A(3) - It has categorically been mentioned in sub-section (3) of Section 234A of the Act that provisions of said sub-section can...

Section 16(4) of the CGST Act imposes a time limit for claiming input tax credit (ITC), restricting it to the due date of filing the return for September following the...

The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

The HC ruled that the petitioner is entitled to the benefit of the Amnesty Scheme for waiver of late fees for filing GSTR-1 and GSTR-9 returns beyond Rs. 10,000/-. The...

Non considering the revised return filed by the assessee for rectifying the mistake in claim of depreciation - In this case, the original return was not filed under...

Quick Updates: