Home Highlights February 2013 Year 2013 This

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1. Settlement Commission lacks power to rectify order u/s 245F(1) by levying interest u/ss 234A, 234B, and 234C prior to 01.06.2011. Rectification order on 21.03.2003 was...

2. Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...

3. The High Court held that the Settlement Commission cannot reopen its concluded proceedings by invoking Section 154 of the Income Tax Act. Section 154 allows...

4. Whether the Settlement Commission could reopen its concluded proceedings by invoking Section 154 so as to levy interest u/s 234B - Held No.

5. 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...

6. 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...

7. Validity of reopening of assessment - An order u/s 245D(4) already been passed by the Income Tax Settlement Commission (ITSC) - Scope of harmonious construction - The...

8. Rejection of request for waiver of interest while granting immunity from penalty and prosecution - order of Settlement Commission - the liability of the Petitioner to...

9. The Settlement Commission's order accepting the additional income offered as cash gifts from relatives was reasonable and fair. The immunity from penalty and prosecution...

10. Interest Liability u/s 234B - settlement of case u/s 245D(4) - Levy of interest on tax on additional income offered without providing the set off of the prepaid taxes...

11. Proceeding conducted by Settlement Commission - any direction issued to the Settlement Commission during the pendency of the proceedings before it would amount to...

12. Demand of interest - scope of the order of the settlement commission - revenue failed to raise the issue if Interest before the settlement commission - revenue is alone...

13. Settlement Commission is authorized to levy interest u/s 234B on additional amount of assessed tax u/s 245D over declared income u/s 245C - HC

14. Prosecution u/s 276CC - Settlement Commission has already granted immunity from prosecution to the petitioner - The High Court highlighted the importance of the...

15. The Appellate Tribunal addressed the issue of levying interest u/s 234B in proceedings u/s 147/148. The AO had enhanced the interest from the date of the original...