If demand of tax raised by the Assessing Authority is more than twice the admitted tax liability, then recovery of difference of tax has to be kept in abeyance during pendency by first appeal before the CIT (Appeals) as per the CBDT instructions.

In brief, the issue is whether the time limits specified in Section 115VP(2) of the Income Tax Act, 1961 is mandatory? Briefly stated facts are that Section 115VP was introduced for regulating method and time of opting for tonnage tax scheme. Such provision was in relation to Chapter XII-G pertaining to special provisions relating to [...]

Assessing Officer having examined the nature of receipts and the corresponding expenditure in the original assessment, now cannot be permitted to change his view with respect to the nature of treatment such receipts must receive. To put it differently, the Assessing Officer made no additions on the count that the payments towards re-charges were not [...]

Assessment Officer in its order dated 28th January, 2005 did not make provision for disallowance of expenditure in terms of Section 14A of the I.T. Act. The assessee has paid interest of Rs.4,49,02,775/- out of which only a sum of Rs.1,33,51,132/- was shown to be relatable to the non-taxable income. The assessee did not maintain [...]

During the course of assessment proceedings the Income Tax Officer has raised certain queries with regard to deductions, which were replied by the assessee and the in the assessment order in paragraph no.4.1 the Assessing Officer has dealt with the question of grant of deduction and has allowed deductions. In our opinion, the reasons given [...]

From the documents on record, it can be seen that part of the penalty was confirmed by the CIT(Appeals). However, with respect to the rest, the same was deleted. The Tribunal concurred with such view of CIT (Appeals). Several additions were struck down in the assessment proceeding itself and were sent for reconsideration. With respect [...]

We do not find substance in the submission of the Respondent-Revenue that there is no requirement to offer a personal hearing as the same was not asked for by the Petitioner. This court in the matter of Sahara Hospitality (supra) has held that it is mandatory wherever it is possible to do so on the [...]

Input services used in manufacture of exempted intermediate product is eligible for credit, if such intermediate product is used in manufacture of dutiable final product In the present case, ONGC is a manufacturer both of dutiable and exempted products. Crude oil as well as natural gases are exempted products. The Tribunal has held against the [...]

The recovery of the demand on these three heads has to be stayed in view of a strong prima facie case being made out. The balance due and payable by the assessee would work out to Rs.159.49 crores. The assessee has under cover of its letter dated 28 March 2013 paid an amount of Rs.100 crores under protest.

It is clear, Section 85 provides that any person aggrieved by any decision or order passed by an adjudicating authority can prefer an appeal within three months. Thereafter, if the Commissioner is satisfied that the appellant was prevented by sufficient cause from preferring the appeal, the Commissioner can allow the appeal to be preferred within [...]