As the department has more amount in its control than the amount ...

Case Laws Income Tax

March 28, 2013

As the department has more amount in its control than the amount of advance tax payable by the assessee. Therefore, it cannot be said that assessee is liable to pay interest on the amount of advance tax. - HC

View Source

← Previous Next →

As the department has more amount in its control than the amount ...

Case Laws Income Tax

March 28, 2013

You may also like:

The Appellate Tribunal addressed the issue of refund of excess taxes claimed by the Assessee due to a difference in the amount of TDS and Advance Tax as computed by the...

The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

Interest u/s 234B - Shortfall in payment of advance tax - TDS was not deducted on the income received by the payer - prior to the financial year 2012-13, the amount of...

Advance tax payment obligation does not apply when assessee claims agricultural land sale proceeds are exempt u/s 2(14). CIT(Appeals) should admit appeal for...

The Appellate Tribunal dismissed the appeal u/s 249(4)(b) due to non-payment of advance tax. The assessee did not respond to the notice u/s 142(1) to clarify tax payment....

Waiver of interest under Section 234B and 234C - Non deduction of TDS by the payer - prior to the financial year 2012-13, the amount of income-tax which is deductible or...

Credit of Dividend Distribution Tax u/s 115-O - The AO, in preparing the statement of assessed total income, computed the DDT payable but did not adjust the DDT already...

Refundable amount utilized by the Department hence interest was payable under Section 244(1A) - SC

Withdrawing the excess tax credit for advance tax and self-assessment tax - Rectification u/s 154 - The assessee has to furnish details of different payments of tax by...

Interest u/s 234B - the assessee was not required to pay advance tax, as the advance tax payable by the tax payer is to be calculated, by reducing the tax on current...

Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

Refund of Service Tax amount - Once it has been held that there is no service then by any stretch ‘Point of Taxation Rules, 2011’ can’t be roped in - amount...

Interest charged u/s 234B - Deposit of amount pursuant to search and seizure proceedings - Provisions of section 132B of the Act governs the manner of utilisation of...

Quick Updates: