Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Reverse charge and assignment of royalty collection: exemption for excess royalty collectors subject to reconciliation; leaseholders remain liable und...
Authorization requirements for customs brokers and benami shipping bills: tribunal upholds licence revocation and penalties after COVID time limit fou...
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Issue: Whether interest under section 234A is leviable where the original return was belated but a return filed in response to a section 153C notice was timely. Reasoning: Section 234A(1) charges interest for delay in filing the original return based on tax as determined under section 143(1) or a regular assessment; Explanation 3 treats an assessment made for the first time under section 153A (including assessments pursuant to section 153C) as a regular assessment for section 234A purposes. Outcome: Interest under section 234A was correctly computed and sustained. - ITAT
Issue: Whether interest under section 234A is leviable where the original return was belated but a return filed in response to a section 153C notice was timely. Reasoning: Section 234A(1) charges interest for delay in filing the original return based on tax as determined under section 143(1) or a regular assessment; Explanation 3 treats an assessment made for the first time under section 153A (including assessments pursuant to section 153C) as a regular assessment for section 234A purposes. Outcome: Interest under section 234A was correctly computed and sustained. - ITAT
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