Judgment Search Results Home > Cases Phrase: tax interest and penalty Page 1 of about 60,089 results (0.111 seconds)

Commissioner of Income-tax Vs. Shankerlal Naraindas

Court : Rajasthan

Reported in : [1970]76ITR642(Raj)

..... a distinction is drawn in the new as well as the old act between tax, interest and penalty. ..... section 156 of the new act expressly mentions that where any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under the new act, the income-tax officer shall serve upon the assessee a notice of demand in the prescribed form specifying the sum so payable. ..... of such income, he or it may direct that such person shall pay by way of penalty, in the case referred to in clause (a), in addition to the amount of the income-tax and super-tax, if any, payable by him, a sum not exceeding one and a half times that amount, and in the cases referred to in clauses (b) and (c), in addition to any tax payable by him, a sum not exceeding one and a half times the amount, of the income-tax and super-tax, if any, which would have been avoided if the income as returned by such ..... section 219 of the income-tax act, 1961, makes it clear that any sum, other than penalty or interest, paid by or recovered from an assessee as advance tax in pursuance of chapter xvii shall be treated as payment of tax in respect of the income of the period which would be the previous year for an assessment for the assessment year next following the financial year in which it was payable and credit therefor-shall be given to the assessee in the regular assessment. .....

Commissioner of Income Tax Vs. M/S Chettinad Cement Corporation Ltd.

Court : Chennai

..... " considering the principle enunciated in the above apex court judgment, it is clear that "tax", "interest" and "penalty" are distinct and different and they are coming under the different concepts of the income tax act, 1961. ..... "interest" and "penalty" have been considered by the supreme court in harshad shantilal mehta v. ..... similarly, under section 156, it is provided that when any tax, interest, penalty, fine or any of other sum is payable in consequence of any order passed under this act, the assessing officer shall serve upon the assessee a notice of demand as prescribed. ..... in respect of question of law nos.3 and 4 are concerned, the learned standing counsel argued that the word "tax" includes interest and therefore, the assessing officer is right in including interest. 4. ..... in respect of question nos.3 and 4 are concerned, he submitted that tax and interest are different and distinct under the income tax act 1961 and therefore, tax cannot be levied under section 115j. 5. ..... tax, penalty and interest are different concepts under the income-tax act. ..... we are concerned in the present case with penalty and interest under the income-tax act. ..... therefore, the tribunal has correctly come to the conclusion and held that "tax" does not include "interest" or "penalty". ..... the provisions for imposition of penalty and interest are distinct from the provisions for imposition of tax. .....

Sri H. Ebrahim, Managing Director of H.E. Distilleries (P) Ltd., Vs. t ...

Court : Karnataka

Reported in : ILR2009KAR3875; [2009]185TAXMAN11(Kar)

..... essentially, it is compensatory and different from penalty - which is penal in character.having regard to the decisions referred to above in relation to the import of words 'tax' interest and 'penalty' which would operate in different concepts, i am of the view that the said contention of mr. ..... , 'tax' 'interest' and 'penalty' and any other sum due or recoverable from him. ..... with reference to section 222 of the act the assessee undoubtedly is liable to pay the tax, interest and penalty. ..... he further submits that a reading of section 179 of the act does not indicate that the amount recoverable will include the tax, interest and also penalty, inasmuch as, what: is sought to be recovered under the provisions is only the tax. ..... indeed the said decision was rendered under the customs act but however, the words and phrases 'interest', 'tax' and 'penalty' fell for consideration and the apex court has observed thus:in fiscal statutes, the import of the words 'tax', interest', penalty', etc. ..... shankar's contention is that the tax as envisaged under section 179 of the act does not include penalty and interest and with reference to section 156 of the act he would contend that a notice of demand would not contain tax, interest, penalty or any other sum. .....

Shatrushailya Digvijaysingh Jadeja Vs. Commissioner of Income-tax

Court : Gujarat

Reported in : [2003]259ITR149(Guj)

..... designated authority, under kar vivad samadhan scheme : [2000]243itr246(delhi) , that the scheme is meant to provide a quick and voluntary settlement of tax dues outstanding as on march, 31, 1998, by offering waiver of a part of the arrears of tax, interest and penalty and providing immunity against institution of prosecution and imposition of penalty. ..... lastly and very significantly, the fact that the revenue had accepted the interpretation placed by the assessee on the provisions of section 95(i)(c) and the declarations of the assessee under this very kvss in belated appeals filed under the income-tax act as well as the wealth-tax act, wherein the amounts of tax, interest and penalty involved were much higher, also tilts the case in favour of the assessee. 63. ..... after filing of the revision applications, the petitioner also applied for settlement of the tax dues under the aforesaid kvss in respect of his liability for tax, interest and penalty under the income-tax act and also under the wealth-tax act. ..... the details about the appeals including the assessment year, the amount of tax involved, the amount of interest and penalty involved, etc. ..... the details about the revision applications including the assessment year, the amount of tax involved, the amount of interest and penalty involved, etc. .....

Shatrushailya Digvijaysingh Jadeja Vs. Cit

Court : Gujarat

Reported in : (2002)177CTR(Guj)508

..... designated authority that the scheme is meant to provide a quick and voluntary settlement of tax dues outstanding as on 31-3-1998, by offering waiver of a part of arrears on tax, interest and penalty and providing immunity against institution of prosecution and imposition of penalty. ..... lastly and very significantly, the fact that the revenue had accepted the interpretation placed by the assessee on the provisions of section 95(i)(c) and the declarations of the assessee under this very kvss in belated appeals filed under the income tax act as well as the wealth tax act, wherein the amounts of tax, interest and penalty involved were much higher, also tilts the case in favour of the assessee.29. ..... after filing of the revision applications, the petitioner also applied for settlement of the tax dues under the aforesaid kvss in respect of his liability for tax, interest and penalty under the income tax act and also under the wealth tax act. ..... a perusal of the statement (annexure 'b' to this judgment) giving the particulars about the appeals and the amounts of tax, interest and penalty involved therein indicates that as against the tax liability of rs. ..... the details about the appeals including the assessment year, the amount of tax involved, the amount of interest and penalty involved, etc. ..... the details about the revision applications including the assessment year, the amount of tax involved, the amount of interest and penalty involved, etc. .....

Sakthi Sugars Ltd. Vs. the Assistant Commissioner of Commercial Taxes, ...

Court : Chennai

Reported in : [1985]59STC52(Mad)

..... so far as taxing statutes are concerned, there is a well-recognised distinction between tax, interest and penalty. ..... tax, interest and penalty are three different concepts. ..... ' section 25 as amended refers to 'recovery of penalty or interest' and reads as follows : 'any penalty or interest payable under this act shall be deemed to be tax under this act, for the purposes of collection and recovery and shall be without prejudice to the institution of any proceeding for an offence under this act, or for the recovery of the entire amount remaining unpaid under this act. ..... is being retained by the dealer, and it only by way of compensation for use of such of the moneys, which rightly belongs to the state by the ..... 24(3) stress has been laid on the use of the word 'penalty' and a comparison is sought to be made with the other provisions providing for penalty in the act, we may at once point out that on a true construction of section 24(3) of the act, though the word 'penalty' has been used therein, what has been provided for, is nothing more that interest, which is claimed by the state, because the amount of arrears of taxes which should have gone to the coffers of the state .....

Capri Bathaid Private Limited And Others Vs. Commissioner Of Trade and ...

Court : Delhi

..... in form dvat-50 issued by the special commissioner on 15th october 2014 did not permit the enforcement officer to carry out any assessment and therefore, orders of default assessment of tax, interest and penalty passed by the avato enf-i under sections 32 and 33 of the dvat act were without the authority of law. ..... issues arise for consideration in the four petitions: (i) whether the avato enf-i who undertook the survey, search and seizure operation and later passed the default assessment orders of tax, interest and penalty, was duly empowered to do so in terms of the dvat act? ..... 1st october 2014 the assistant value added tax officer, enforcement-i (avato enf-i) issued default notices of assessment of tax, interest and penalty under sections 32 and 33 of the dvat act. ..... therefore, the orders of default notices of assessment of tax, interest and penalty are held to be bad in law on this ..... 2015 the avato enf-i issued default notices of assessment of tax, interest and penalty under sections 32 and 33 of the dvat act. 6. ..... the respondent did raise an objection as to the maintainability of these petitions on the ground that the petitioners had an alternative statutory remedy of filing objections before the objection hearing authority and thereafter the appellate tribunal against the orders of default assessments of tax, interest and penalty. 50. ..... february 2015, the avato enf -i passed two separate orders, the first being a notice of default assessment of tax and interest and the other for penalty. .....

S. Vasudeva Rao Vs. P.S.J. Sigamany

Court : Chennai

Reported in : (1995)125CTR(Mad)93; [1995]217ITR284(Mad)

..... the course of filing the original return, the accused failed to disclose the unaccounted stock representing corals and pearls and attempted to evade tax, penalty and interest payable under the income-tax act and caused circumstances to exist that would have had the effect of evading tax, interest and penalty and has thereby committed an offence punishable under section 276c(1) of the income-tax act, 1961. ..... , learned standing counsel for the respondent, would submit that the setting aside of the order of penalty by the income-tax appellate tribunal is not germane to the prosecution of the criminal complaint and only if the penalty is set aside under section 273a of the income-tax act, would it be relevant so far as the criminal complaint is concerned and that has been clearly set out in section 279(1a) of the act. ..... for the petitioner, would submit that the income-tax appellate tribunal, madras, had set aside the penalty imposed under section 271(1)(c) of the income-tax act on the premises that it is not possible to consider that the assessee had been deemed to have concealed the income under explanation 5 and for other reasons and so the entire basis of prosecution is set aside by the order of the said tribunal and hence the prosecution is liable to be quashed. ..... in other words, the explanation gives an opportunity to the assessee to make amends for avoiding the penalty and such an opportunity can obviously be availed of only in the proceedings after the enactment of the .....

Kailash Talkies Vs. State of Rajasthan and anr.

Court : Rajasthan

Reported in : AIR1998Raj1

..... the explanation submitted by the appellant was not accepted by the assessing authority, therefore, he framed best judgment assessment for five months from april, 1988 to august, 1988 and crented demand of entertainment tax, interest and penalty thereon by separate assessment orders for all these five months vide annexures-1 to 5, attached with the writ petition. 5. ..... being aggrieved by the aforesaid order of assessment, interest and penalty imposed by the assessing authority, the petitioner preferred an appeal before the deputy commissioner (appeals), commercial taxes department, udaipur, which was partly allowed holding that there was no evasion of tax. ..... the appellate authority set aside the levy of tax and imposition of penalty, however, the levy of interest was maintained. ..... (appellant), the learned single judge held that such notice was not necessary, because the revisional authority did not impose assessment, tax and penalty more than assessed by the assessing authority and what the revisional authority actually did was that it set aside the order passed by the appellate authority and restored the orders annexures-1 to 5 passed by the assessing authority, and, therefore, it was not a case of enhancement of assessment tax and penalty and therefore, no notice was necessary. .....

Ramkumar Jaigopal Vs. Assistant Commissioner of Sales Tax

Court : Orissa

Reported in : 103(2007)CLT735

..... tax, interest and penalty ..... if a dealer-(a) fails to file the returns under this act within the time prescribed : or(b) knowingly furnishes incomplete or incorrect particulars in his returns : or(c) fails to pay any tax including penalty or interest, if any, due from him under the1 provisions of this act : or(d) having issued tax or retail invoices, fails to account for the said invoices in his books of account : or(e) holds, accepts or furnishes or causes to be furnished, a way bill which he ..... is erroneous or not applicable, as the case may be(4) where the certificate of registration of a dealer is suspended or is restored after such suspension, the information shall be widely publicised through publication in the commercial tax gazette and in any other manner as may be prescribed.31.cancellation of certificate of registration (1) where-xx xx xx xx(5) where the dealer whose certificate of registration has been suspended under sub-section (1) of section 30 fails to ..... knows or has reason to believe to be false : or(f) is found to have no business at the place declared in the application for registration as his place of business : or(g) contravenes any of the provisions of this act : or(h) discontinues his business and .....