Income Tax : Budget 2015-16 -Rationalisation of provisions relating to Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) Under C...
Income Tax : Interest payable by the assessee under section 220 Interest under section 220 is proposed to be increased or decreased as conseque...
Income Tax : The dispute concerned enforcement of long-pending tax demands without timely action. The Court held that prolonged inaction by aut...
Income Tax : The High Court held that once a resolution plan under IBC extinguishes prior tax liabilities, reassessment cannot be initiated. Th...
Income Tax : ITAT held that interest under Section 220(2) must be recomputed based on reduced assessed income after rectification under Section...
Income Tax : The Tribunal ruled that section 220(2) interest cannot be charged where the original demand notice showed nil demand, holding that...
Income Tax : Madras HC: Delayed self-assessment tax payment is not 'wilful evasion' under IT Act S. 276C(2) if the tax is paid before prosecuti...
Recently Delhi High Court has in the case of Sony India Pvt. Ltd vs. ACIT held that It is expected of from Assessing Officer, having rejected the stay application, to wait for a reasonable period before he takes coercive steps to recover the amounts
Contention of the Assessee :- The action of the petitioner revenue in not only attaching the petitioner’s bank account but also withdrawing the amount of Rs.159.84 crores on 18 November 2013 when the stay application was already fixed for hearing before the Tribunal on 22 November 2013
