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Portfolio Management Company cannot determine Performance Fee on Estimate Basis to pay Advance Tax: ITAT deletes Excess Interest u/s 234C [Read Order]

Fathima Karama A.M

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) in a recent ruling deleted the excess interest under Section 234C of the Income Tax Act...

No Interest demand in absence of Condition precedent u/s 11AA of Central Excise Act: CESTAT [Read...

Commissioner (Appeals) has No Jurisdiction to issue SCN u/s73 of Finance Act, Order confirming...

Benefit of S.73(3) can't be denied When Assessee discharged entire Service Tax along with Interest:...

One Day Delay in Debiting Amount from Bank due to Mistake of Banker: ITAT Waives Off Interest [Read...

Protective Addition made to Save Interest of Revenue not permissible, Assessment can't be reopened based on contingent reason: ITAT [Read Order]

The Kolkata bench of the Income Tax Appellate Tribunal ( ITAT ) has held that Protective addition made to save interest of revenue is not permissible and the assessment can't be reopened based on...

No TDS applicable on Payment of Interest to its Member by Co-operative Bank: ITAT [Read Order]

The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has held that TDS is not applicable in respect of payment of interest to its member by Co-operative Bank. M/s. Nagalambika Pattina...

Bonafide Discharge of Duties by Joint Commissioner in raising GST Penalty and Interest: Rajasthan HC withdraws SCN issued to JC [Read Order]

The Rajasthan High Court has recently withdrawn the Show Cause Notice (SCN) issued against the Joint Commissioner after issuing a demand for the penalty and interest to the assessee-Hindustan...

CESTAT upholds eligibility of Capita India for Interest on delayed Sanction of Refund Claim under Rule 5 of CCR [Read Order]

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), upheld the eligibility of Capita India Pvt Ltd, the appellant for interest on delayed sanction of refund claim under Rule 5 of Cenvat...

Interest can't be allowed on Seized Currency notes on Release: CESTAT [Read Order]

The Delhi Bench of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT)has held that interest can't be allowed on Seized Currency notes on the release. On the premises of Matta Paints...

Taxability of Interest from Investment Earned by Co-Operative Society as 'Other Income': ITAT directs Re-Adjudication [Read Order]

In a recent ruling, the Bangalore Bench of the Income Tax Appellate Tribunal ( ITAT ), which is chaired by Judicial Member George George K. and Accountant Member Laxmi Prasad Sahu, instructed the...

Co-Operative Society Eligible to Claim Deduction of Interest from Deposits in Co-Operative Banks: ITAT [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT), presided over by Judicial Member Vikas Awasthy, decided that the cooperative society is entitled to claim a deduction for said interest...

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