The ITAT Delhi held that interest levied u/s 220(2) on ...

ITAT held interest u/s 220(2) not applicable as FBT demand not properly notified to assessee. Lack of notice served by Revenue.

Case Laws Income Tax

May 23, 2024

The ITAT Delhi held that interest levied u/s 220(2) on non-payment of FBT demand, adjusted against a refund due, was not justified as no intimation or notice of demand was served on the assessee regarding the FBT liability u/s 115WE. The assessee had deposited the FBT demand suo motu, but it was still recovered from the refund along with interest. The tribunal found that the mere appearance of the demand on the e-filing portal did not absolve the Revenue from properly serving the intimation and demand notice. The Revenue failed to provide evidence of serving the notice. While the assessee had paid the FBT liability, it did not create an interest liability u/s 220(2). The appeal of the assessee was allowed.

View Source

← Previous Next →

The ITAT Delhi held that interest levied u/s 220(2) on ...

ITAT held interest u/s 220(2) not applicable as FBT demand not properly notified to assessee. Lack of notice served by Revenue.

Case Laws Income Tax

May 23, 2024

You may also like:

Levy of interest u/s 220(2) - Revenue demanded interest on the amount refunded to the Assessee - The demand for interest raised by the AO is contrary to the Circular...

Levy of interest u/s 220(2) - Once the Tribunal’s order is vacated and the original order is revived, the original demand that remained unpaid also gets revived. -...

Charging of interest u/s 220(2) - demand was raised first time - additions made in the rectification order passed u/s 154 - the rectification order itself cannot include...

Interest u/s 220(2) - assessee was required to pay interest u/s 220(2) as it had not initially satisfied the demand raised in 2003 - interest on refund is to be charged...

Interest demand u/s 220(2A) - petitioner had delayed in paying the interest under Sections 234A, 234B and 234C - Earlier, the application for waiver of interest was...

Assessment framed without issuing mandatory notice u/s 143(2) by jurisdictional officer. Assessee filed return with Range-1(1), notice u/s 143(2) issued by ITO,...

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...

Validity of reopening of assessment - No statutory notice u/s 143(2) has been served - assessee failed to comply with the notice u/s 148 of the Act within the time...

Grant of interest on refund of amount to the assessee u/s 244A - Interest u/s 220(2) - the finding recorded by the Commissioner as well as the Tribunal that the interest...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

Validity of the issuance of notice u/s. 143(2) - Scope of proper service of notice - notice u/s. 143(2) served through affixture - Since in the instant case, the notice...

Maintainability of appeal before CIT(A) against Levy of interest u/s 220(2) - enhanced assessment - AO directed that interest u/s 220(2) chargeable on the amount...

Waiver of interest levied u/s 220(2) - Financial difficulty - it would be necessary for the 1st respondent to reconsider the matter regarding levy of interest under...

Reopening of assessment - non-issuance of notice u/s 143(2) - assessment could not be sustained for lack of service of statutory notice u/s 143(2) of the Act - AT

Interest on refund - Where it is found that no refund has been granted pursuant to intimation u/s 143(1), the assessee shall be granted relief from such levy of interest...

Quick Updates: