Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
Managerial remuneration disallowance under s.40A(2)(b) challenged over alleged tax-avoidance; appellate decision restored deletion of addition for dir...
Interest on income-tax refunds under s.244A(1) and s.244A(1A) was held to be computable up to the actual date of refund payment, not merely up to the date of the effect-giving orders, since refunds were paid months later; consequently, the taxpayer was entitled to additional statutory interest for the intervening period on the refund amounts for the relevant assessment years. Separately, where s.244A(1A) interest had been determined but remained unpaid for an extended period, the taxpayer was held entitled to interest on such delayed payment of interest, payable in accordance with s.244A at 6% p.a. from the stipulated date until payment. - HC
Interest on income-tax refunds under s.244A(1) and s.244A(1A) was held to be computable up to the actual date of refund payment, not merely up to the date of the effect-giving orders, since refunds were paid months later; consequently, the taxpayer was entitled to additional statutory interest for the intervening period on the refund amounts for the relevant assessment years. Separately, where s.244A(1A) interest had been determined but remained unpaid for an extended period, the taxpayer was held entitled to interest on such delayed payment of interest, payable in accordance with s.244A at 6% p.a. from the stipulated date until payment. - HC
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