Judgment Search Results Home > Cases Phrase: income tax act 1961 section 234d interest on excess refund Page 10 of about 2,424 results (0.133 seconds)

G.H. Industries Vs. Collector of Central Excise, Ahmedabad

Court : Gujarat

Reported in : 1997(94)ELT483(Guj)

..... the amount of excise duty unauthorisedly collected by the revenue interest should be paid, it would have made specific provision as it is made in the income tax act, 1961. it may also be noted that the central excises and salt act, 1944 is a complete code. it provides for refund of the amount of duty of excise (see s. 11b of the ..... the rules only provide in certain circumstances for refund of the amount of duty wrongly collected. the act and the rules did not provide for payment of interest on such wrongful collection of amount of tax. therefore the order passed by the assistant collector of central excise cannot be said to be in any way unlawful. 6. on the ..... contrary there is provision in section 40 of 'the act' which protects the government and its officers for 'anything done or intended .....

R.V.S. and Sons Vs. Commissioner of Income-tax Another

Court : Chennai

Reported in : [1999]239ITR192(Mad)

..... 1&2) 1986-87 cent. i dated march 20, 1987, for the assessment year 1982-83 under the income-tax act, 1961, direct the first respondent to grant interest under section 214 of the income-tax act and waive the interest under section 139(8) of the income-tax act, 1961. 3. in writ petition no. 7086 of 1988, the petitioner has prayed for issue of a writ of ..... 2) /86/87 cent. i dated march 20, 1987, and for the assessment year 1983-84 under the income-tax act, 1961, direct the first respondent to grant interest under section 214 of the income-tax act and waive the interest under section 139(8) of the income-tax act, 1961. 4. except for the fact that w.p. no. 7031 of 1988 relates to the assessment year 1982- ..... 6,204 in each case and levied a sum of rs. 5,886 and rs. 5,626 by way of interest under section 139(8) of the income-tax act, 1961, treating the payment of advance tax as ad hoc payment since the assessee had filed estimates in the form of a statement in form no. 28-a instead of in form no. 29 .....

Commissioner of Central Excise Vs. Girdhar Metal Inds. Pvt. Ltd.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Mumbai

..... (import), calcutta and ors. it is held that "there is no specific provision in the customs act which authorizes the customs authority to withhold the refund during the pendency of appeal before the tribunal. under the income tax act, 1961, a specific provision has been made under section 241 giving power to the authorities to withhold refund, ..... where an order giving rise to refund is the subject matter of appeal or further proceeding or where any other proceeding under the act, is pending if the grant of ..... under protest imported goods diverted to said unit in ut cenvat credit avail on them held, no allegation of liability of unit no specific provision in customs act which authorizes the customs authority to withhold the refund during pendency of appeal before tribunal ratio of judgment in neeraj newspaper association (p) ltd. v. .....

Seventh Income-tax Officer Vs. Sitalakshmi Ginning Factory

Court : Income Tax Appellate Tribunal ITAT Madras

Reported in : (1986)19ITD604(Mad.)

..... the revenue in this appeal is that the commissioner (appeals) was not justified in directing the ito to grant interest under section 214 of the income-tax act, 1961 ('the act') on the refund of excess tax paid by the assessee amounting to rs. 22,568. the commissioner (appeals) found from the assessment order that the ito determined a net refund ..... the imposition of penal interest. we, therefore, hold that no appeal will lie against such imposition of penal interest alone under section 246{c) of the income-tax act....it would be noticed that in the said case before the madras high court the assessee had not filed any appeal against the assessment order as such, but ..... some assessment was already made on the assessee before 15-6-1979 when the first instalment of advance tax was due and thus though the assessee was required to file the statement of advance tax in form no. 28a prescribed by the income-tax rules, 1962, ('the rules') the assessee had filed an estimate in form no. 29 prescribed .....

Emico Kcp Ltd. Vs. Cit

Court : Chennai

Reported in : [2002]124TAXMAN48(Mad)

..... the directions of this court. they are :'1. whether, on the facts and in the circumstances of the case, the assessee is entitled to interest under section 214 of the income tax act, 1961, on the net refund amount determined at rs. 1,95,951 2. whether, on the facts and in the circumstances of the case and having regard to the provisions of ..... sections 208 to 219 of the income tax act, 1961, a payment of rs. 12,00,000 made on 14-3-1979 should be treated as advance payment of tax ?'the two questions are inter-linked and they are not happily worded in the sense that the questions did not ..... would have been rs. 1,95,951. any excess amount paid by way of advance tax carries interest under section 214 of the income tax act, 1961 (hereinafter referred to as 'the act'). however, the assessing authority did not grant interest on the total amount of rs. 1,95,951 and instead took a view that the amount on which the interest .....

Commnr. of Central Excise, Bhavnagar Vs. Saurashtra Chemicals Ltd.

Court : Supreme Court of India

Reported in : 2007(119)ECC12; 2007(145)LC12(SC); 2007(212)ELT7(SC); 2007(7)SCALE67; (2007)10SCC352; [2007]8STT433; 2007AIRSCW5733

..... of the value of capital goods which represents the amount of duty on such capital goods, which the manufacturer claims as depreciation under section 32 of the income-tax act, 1961 (43 of 1961).(5)(a) the cenvat credit shall be allowed even if any inputs or capital goods as such or after being partially processed are sent to a job ..... the purpose of grant of modvat credit, the law which was operating in the field at the relevant point of time was a decision of the customs, excise and service tax appellate tribunal (cestat), chennai in grasim industries ltd. v. commissioner of central excise, trichy 2004 (176) elt 265 (tri-chennai) in terms whereof the quantum of ..... and accessories, refractories and refractory materials and goods falling under heading no. 68.02 and sub- heading 6801.10 of the first schedule to the central excise tariff act) are still in the possession and use of the manufacturer of final products in such subsequent years.(c) cenvat credit may also be taken in respect of such .....

Axis Bank Vs. Sbs Organics Pvt. Ltd and Anr.

Court : Supreme Court of India

..... the purpose of the sarfaesi act is different, it is meant only for speedy recovery of the dues, and the ..... available of the making of the deposit of admitted tax. we are also conscious of the fact that such a pre-condition is present in several statutes while providing for statutory appeals, like the income-tax act, 1961, the central excise act, 1944, the consumer protection act, 1986, the motor vehicles act, 1988, etc. however, unlike those statutes, ..... [3]., had the occasion to consider the meaning of the expression entertain in the context of a similar provision in the uttar pradesh sales tax act,1948 where it was held that in such context, the expression has the meaning of admitting to consideration . the relevant discussion is available at .....

Veena Kanoria Vs. Ito

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (2003)85ITD95(Kol.)

..... judicial member and the accountant member in regard to the following issue, i was nominated as third member by the honble president under section 255(4) of the income tax act, 1961 : "whether, on the facts and in the circumstances of the case, the payment of service charges of rs. 1,58,600 to shri sanjiv taneja and ..... in holding that excess of sale proceeds over purchase price or adjusted purchase price of shares was taxable capital gains under section 45 of the income tax act, 1961".(ii) "for that learned commissioner (appeals) was wrong in holding that sale of bonus shares resulted into taxable capital gains under section 45 of the ..... travelling expenses of rs. 55,044".(v) "for that learned commissioner (appeals) was wrong in confirming levy of interest under sections 234a, 234b and 234c of the income tax act".(vi) "for that learned commissioner (appeals) was wrong in not admitting additional grounds and confirming the assessment order and demand notice which were not in accordance with .....

Trustees of H.E.H. Nizam's Religious Endowment Trust Vs. Income-tax Of ...

Court : Andhra Pradesh

Reported in : [1981]131ITR239(AP)

..... of most income-tax acts is that the word 'assessment' is used as meaning sometimes the computation of income, sometimes the determination of the amount of tax payable and sometimes the whole procedure laid down in the act for imposing liabilities on the taxpayer.27. this wide connotation of the word 'assessment' was reiterated by the supreme court in c. a. abraham v. ito : [1961]41itr425(sc ..... into account all relevant material which the income-tax officer has gathered, shall make the assessment of the total income or loss to the best of his judgment and determine the sum payable by the assessee or refundable to the assessee on the basis of such assessment.' section 244 is a newly introduced provision in the 1961 act, and there was no corresponding provision thereto .....

Commissioner of Income-tax, Ludhiana-II Vs. Avery Cycle Inds Ltd.

Court : Punjab and Haryana

..... filed a return declaring a business loss of rs. 1,03,32,832/- the return was processed under section 143 (1) of the income tax act, 1961 (hereinafter referred to as 'the act'). a statutory notice under section 143(2) of the act was served upon the assessee, followed by a detailed questionnaire dated 23.05.2001. after considering the material on record, the assessing officer ..... pay interest on excess refund admittedly received by the assessee. the assessing officer rightly levied interest but the cit(a) and the income tax appellate tribunal have both erred in deleting the interest. counsel for the assessee on the other hand, submits that section 234d of the act does not apply to the appellant and even it is held that section 234d of the .....