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Right to Interest Affirmed: CESTAT Grants 12% Interest on ₹5 Cr Investigation Deposit to KLJ Plasticizers [Read Order]

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Ahmedabad has held that interest at the rate of 12 percent per annum is payable on...

Interest from Bank Deposit Does Not qualify for S. 36(1)(viii) Deduction: SC says it’s Not Income...

UAE Company Earned ₹4+ Cr Interest in India, No ITR Required Despite TDS: Here’s Why [Read Order]

ITR Refund Still Not Credited? Check How Much Interest Department Must Pay You

Claim for Accrued Interest Beyond NCLT Orders Unsustainable: NCLAT Dismisses IA Seeking ₹15.15 Cr...

Sugar Company Claims Rs. 14.45 Lakh Interest on FDs against Pre-Operative Expenses: ITAT Allows Set-Off [Read Order]

The Panaji Bench of Income Tax Appellate Tribunal ( ITAT ) allowed a set-off of Rs. 14.45 lakh interest earned on fixeddeposits (FD) by the assessee against pre-operative expenses. Shirguppi...

Interest u/s 244A of Income Tax Not Automatically Payable on Court-Ordered Refunds Unless Specifically Directed or Demand is Final: Calcutta HC [Read Order]

In a recent ruling, the Calcutta High Court held that interest under Section 244A of the Income Tax Act is not automatically payable on refunds ordered by the court unless the court specifically...

Interest Mandatory on Amounts Payable under Provisional Assessment but Not Paid on Due Date: CESTAT in BHEL Case [Read Order]

The New Delhi Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that interest is mandatory on amounts payable under provisional assessment but not paid on the due date,...

Loans from Sister Concern Treated as Deemed Dividend u/s 2(22)(e): ITAT Deletes Addition, Treating It as Business Current Account with Interest Repayment [Read Order]

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the addition of deemed dividend under section 2(22)(e) of Income Tax Act,1961, on loans received from a sister concern,...

Appeals on Breach of Exemption Notification Conditions Lie with HC u/s 130 of Customs Act: Supreme Court [Read Judgement]

The Supreme Court has ruled that appeals concerning the breach of conditions under an exemption notification fall within the jurisdiction of the High Courts under Section 130 of the Customs Act,...

GST Refund Claim Paid by Revenue Along with Interest: Supreme Court Dismisses SLP [Read Judgement]

The Supreme Court in a recent case dismissed the Special Leave Petition (SLP)in absence of merit. As it was evident from the High Court ruling out of which the case arose that the Goods and...

ITAT Grants Assessee One More Opportunity to Substantiate Claims regarding S.69A in interest of Justice [Read Order]

The Income Tax Appellate Tribunal (ITAT), Chennai, has allowed the appeal of S.S.S. Exports and remanded the case back to the Commissioner of Income Tax (Appeals) for a fresh hearing. The dispute...