recovery of demand

Can excise duty be recovered u/s 11D(1A) even when not shown on Invoice?

Income Tax - As per Section 11D(1) of Central excise Act 1944, brought under the statute book w.e.f. 20.9.1991, every person, who is liable to pay duty under the Act and has collected any amount in excess of the duty assessed or determined and paid on any excisable goods under the Act from the buyer of such goods in any manner as representing duty of ...

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Refund of Excess amount paid- Dispute Resolution Scheme, 2016

Income Tax - The Dispute Resolution Scheme, 2016 has been introduced through Union Budget, 2016. The scheme has been brought with the object to collect tax arrears, clear pendency of appeals, achieve reduction in administrative costs etc. In most of the cases apart from filing appeal, the demand amount, either partly or fully, is generally deposited ...

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S. 281B Revocation of property attachment on Furnishing of Bank Grantee

Income Tax - Under the existing provisions of section 281 B the Assessing Officer may provisionally attach any property of the assessee during the pendency of assessment or reassessment proceedings, for a period of six months with the prior approval of the income- tax authorities specified therein, if he is of the opinion that it is necessary to do so...

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Stay of demand- Analysis of CBDT office memo dated 29.02.2016

Income Tax - Income-tax Department is also issuing instruction making it mandatory for the assessing officer to grant stay of demand once the assesse pays 15% of the disputed demand, while the appeal is pending before Commissioner of Income-tax (Appeals). ...

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Whether Excise duty can be demanded jointly and severally?

Income Tax - The primary and fundamental meaning of Excise Duty or Duty of Excise is tax on articles produced or manufactured in the taxing country and intended for home consumption (i.e. consumption within the same country). It is an indirect duty which the manufacture or producer passes on the ultimate consumer, that is, its ultimate incidence will ...

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TDS deducted but not deposited – Demand against deductee

Income Tax - The Central Board of Direct Taxes had issued directions to the field offices that taxpayers whose tax has been deducted at source but not deposited to the Government’s account by the deductor, will not be asked to pay the demand to the extent tax has been deducted from his income....

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Revised guidelines for stay of demand at first appeal stage

Income Tax - With a view to streamline the process of grant of stay of demand when the case of the taxpayer is pending before Commissioner (Appeals) and to standardize the quantum of lump sum payment required to be made by the assessee as a pre-condition for stay of demand disputed, the Central Board of Direct Taxes has issued fresh guidelines to the ...

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Amend Section 281B To Provide Release Of Attached Property On Submission Of Bank Guarantee

Income Tax - Under Section 281B, AO has the power to provisionally attach the assets, with the approval of the CIT/CCIT. Such attachment is supposed to be temporary, with a limit of 6 months, extendable to a maximum of 24 months. However, in view of the fact that in many such cases, the proceedings itself get stayed as a result of applications made by...

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Recommendations Regarding Recovery of Disputed Income Tax Demand

Income Tax - Under the existing regime for recovery of demand, Assessing Officers insist upon collecting disputed demands even when they are in appeal. The situation is aggravated in years when the revenue collection targets are ambitious. In practice, this is leading to serious hardship to the taxpayer particularly in cases where there is high-pitche...

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Draft circular on arrear recovery manual for Central Excise, Customs and Service Tax

Income Tax - Notification No. 70/2010 Feedback/Comments may be sent to Chief Commissioner (TAR) within two weeks at adc_tar@yahoo.com. Hard copy of the same may follow. PREFACE The arrears of revenue have been piling up over the years due to which it has been felt necessary to compile a ‘Hand Book’ of all legal provisions , including instructions,...

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Stay Application: No necessity to pre-deposit 15% of disputed demand

Jagdish Gandabhai Shah Vs principal Commissioner of Income Tax (Gujarat High Court) - High Court held that Considering the Office Memorandum F. No. 404/72/93- ITCC dated 29thFebruary 2016 as a whole, there is no such requirement of pre-deposit of 15% of the disputed demand either at the time of submitting stay application or before the stay application of the assessee is considered o...

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AO can adjust only 15% of demand against refund in stay application

M/s Andrew Telecommunications India Pvt. Vs Principal Commissioner of Income Tax (Bombay High Court at Goa) - Rule made returnable forthwith. The learned Counsel for the respondent, waives service. Heard finally by consent of parties. The petitioner is a Company engaged in the business of manufacturing base station antennas, microwave antennas, R.F. cables, jumpers and connectors and trading in related prod...

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ITAT vacates stay on demand on flouting of terms of stay of demand

MSM Discovery Private Limited Vs The Asst. Commissioner of Income Tax (ITAT Mumbai) - This appeal, filed by the assessee, being ITA No. 971/Mum/2016 for assessment year 2011-12 has come up for hearing today i.e. 23-02.2017 whereby ld. Counsel Shri Hiten Chande,CA on behalf of the assessee and Mrs. Malathi Sridharan, CIT DR on behalf of the Revenue were present. The Assessing officer ...

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Recovery proceedings Initiation before stay application disposal is illegal

Khandelwal Laboratories Pvt. Ltd. Vs DCIT (Bombay High Court) - High Courtheld that the any action of revenue to recover taxes adopting coercive means is not permissible till the assessee’s application for stay under section 220(6) of the Act is disposed of. Further, an application for stay should be disposed off by a speaking order....

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High pitched assessments: 100% demand stay must be Granted

Dimension Data Asia Pacific Pte Ltd Vs DCIT (ITAT Mumbai) - The Tribunal granted 100 percent stay of demand because (a) the assessed income was more than 10 times the returned income. (Instruction 96 of 1969 was relied upon) & (b) The stand taken by the AO was at variance with the stand taken by TPO....

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Committee to recommend measures for expeditious recovery of arrears of taxes.

F. No. 385/20/2017-IT(B) - (25/05/2017) - A Committee of the following officers is hereby constituted to study the nature and extent of arrears of direct taxes and to suggest measures for expeditious recovery of the outstanding dues:...

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Unsatisfactory Income Tax recovery from arrears and current demand

F. No. 385/17/2016-IT (B) - (17/03/2017) - On review of the position of collection out of arrear and current demand as on 28.02.2017, it is noted that the performance of the Department as a whole and of almost all Pr. CCIT Regions individually is much below the targets given in the Central Action Plan 2016-17....

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CBDT chief instructs Pr. CITs to enhance revenue collection

F. No. 385/17/2016-IT(B) - (06/03/2017) - With a view to concentrate all efforts towards the objective of achieving the budget target, you are requested to personally review and monitor the position of collections through advance tax, TDS and recovery from arrear and current demand of your Region on a weekly basis. I have separately written...

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CBDT fixes collection Target- Jan-March dedicated quarter for Recovery

F. No. 385/17/2016-IT (B) - (06/01/2017) - Time-barring date of scrutiny assessment was advanced to 31st December to provide assessment units with a dedicated quarter for recovery of demand raised. ...

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Step up efforts to recover outstanding demand- CBDT

F.No.385/17/2016-IT (B) - (19/12/2016) - It may be pointed out that the target of cash collection from arrear demand was fixed very modestly at Rs.53,981 crore in the Central Action Plan for 2016-17 as against very large amount of arrears outstanding. However. till the end of November, 2016...

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Recent Posts in "recovery of demand"

Committee to recommend measures for expeditious recovery of arrears of taxes.

F. No. 385/20/2017-IT(B) (25/05/2017)

A Committee of the following officers is hereby constituted to study the nature and extent of arrears of direct taxes and to suggest measures for expeditious recovery of the outstanding dues:...

Read More

Stay Application: No necessity to pre-deposit 15% of disputed demand

Jagdish Gandabhai Shah Vs principal Commissioner of Income Tax (Gujarat High Court)

High Court held that Considering the Office Memorandum F. No. 404/72/93- ITCC dated 29thFebruary 2016 as a whole, there is no such requirement of pre-deposit of 15% of the disputed demand either at the time of submitting stay application or before the stay application of the assessee is considered on merits. ...

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AO can adjust only 15% of demand against refund in stay application

M/s Andrew Telecommunications India Pvt. Vs Principal Commissioner of Income Tax (Bombay High Court at Goa)

Rule made returnable forthwith. The learned Counsel for the respondent, waives service. Heard finally by consent of parties. The petitioner is a Company engaged in the business of manufacturing base station antennas, microwave antennas, R.F. cables, jumpers and connectors and trading in related products....

Read More

Unsatisfactory Income Tax recovery from arrears and current demand

F. No. 385/17/2016-IT (B) (17/03/2017)

On review of the position of collection out of arrear and current demand as on 28.02.2017, it is noted that the performance of the Department as a whole and of almost all Pr. CCIT Regions individually is much below the targets given in the Central Action Plan 2016-17....

Read More

ITAT vacates stay on demand on flouting of terms of stay of demand

MSM Discovery Private Limited Vs The Asst. Commissioner of Income Tax (ITAT Mumbai)

This appeal, filed by the assessee, being ITA No. 971/Mum/2016 for assessment year 2011-12 has come up for hearing today i.e. 23-02.2017 whereby ld. Counsel Shri Hiten Chande,CA on behalf of the assessee and Mrs. Malathi Sridharan, CIT DR on behalf of the Revenue were present. The Assessing officer was also present during the course of he...

Read More

CBDT chief instructs Pr. CITs to enhance revenue collection

F. No. 385/17/2016-IT(B) (06/03/2017)

With a view to concentrate all efforts towards the objective of achieving the budget target, you are requested to personally review and monitor the position of collections through advance tax, TDS and recovery from arrear and current demand of your Region on a weekly basis. I have separately written D.O. letters on stepping up efforts for...

Read More

CBDT fixes collection Target- Jan-March dedicated quarter for Recovery

F. No. 385/17/2016-IT (B) (06/01/2017)

Time-barring date of scrutiny assessment was advanced to 31st December to provide assessment units with a dedicated quarter for recovery of demand raised. ...

Read More

Step up efforts to recover outstanding demand- CBDT

F.No.385/17/2016-IT (B) (19/12/2016)

It may be pointed out that the target of cash collection from arrear demand was fixed very modestly at Rs.53,981 crore in the Central Action Plan for 2016-17 as against very large amount of arrears outstanding. However. till the end of November, 2016...

Read More

Can excise duty be recovered u/s 11D(1A) even when not shown on Invoice?

As per Section 11D(1) of Central excise Act 1944, brought under the statute book w.e.f. 20.9.1991, every person, who is liable to pay duty under the Act and has collected any amount in excess of the duty assessed or determined and paid on any excisable goods under the Act from the buyer of such goods in any manner as representing duty of ...

Read More
Posted Under: Income Tax |

Refund of Excess amount paid- Dispute Resolution Scheme, 2016

The Dispute Resolution Scheme, 2016 has been introduced through Union Budget, 2016. The scheme has been brought with the object to collect tax arrears, clear pendency of appeals, achieve reduction in administrative costs etc. In most of the cases apart from filing appeal, the demand amount, either partly or fully, is generally deposited ...

Read More
Posted Under: Income Tax |
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