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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 hearing.
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 recovery from arrear demand, collection out of current demand and collection from TDS, which may be followed scrupulously by all officers engaged in the work of assessment and collection.
Time-barring date of scrutiny assessment was advanced to 31st December to provide assessment units with a dedicated quarter for recovery of demand raised.
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
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 excise is required to pay the amount so collected to the credit of the Central Govt.
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 by the assesses.
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.
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.
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.
In cases where that tax payer has contested the demand, CPC would issue a reminder to the assessing officer about the contention of the taxpayer, asking him to either confirm, or make appropriate changes to the demand within thirty days. In case no response is received from the AO within thirty days, CPC would issue the refund without any adjustment. The responsibility of non-adjustment of refund against outstanding arrears, if any, would lie with the assessing officer,
