Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARDS :: empanelment :: ACCOUNTING STANDARD :: TDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: due date for vat payment :: cpt :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4%
 
 
From the Courts »
  Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Jcb India Ltd. Vs. Deputy Commissioner Of Income Tax &
 Saheb Ram Om Prakash Marketing Pvt Ltd Vs. Commissioner Of Income Tax & ORS
 Tulsi Tracom Private Limited Vs. Commissioner Of Income Tax – 9
 M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)
 PCIT vs. Delhi Airport Metro Express Pvt. Ltd (Delhi High Court)
 CIT vs. Deepak Kumar Agarwal (Bombay High Court)
 Bumper quarter of mergers and acquisitions
  Pr CIT vs. Mera Baba Reality Associates Pvt Ltd (Delhi High Court)
 CIT vs. Parle Bisleri Ltd (Bombay High Court)

CIT vs. Reliance Energy Ltd (Supreme Court)
October, 05th 2013

S. 234D does not apply to an assessment year commencing pre 1.6.2003 if the assessment order is passed prior to that date

For AY 1998-99, the AO passed an assessment order prior to 01.06.2003 in which interest u/s 234D was not levied. The assessee filed an appeal against the said order on certain other issues and in giving effect to the order of the appellate authority, the AO levied interest u/s 234D on the ground that excess refund had been allowed u/s 143(1) than what the assessee was entitled to u/s 143(3). The Tribunal allowed the assessee’s appeal by relying on Exta Promoters 305 ITR (AT) 1 where it was held that as s. 234D was inserted with effect from 1.6.2003, it did not apply to earlier assessment years. The department’s appeal was dismissed by the High Court (order included) by relying on its own judgement in the case of Delta Airlines 245 CTR 16 (Bom) (order included). On appeal by the department to the Supreme Court HELD dismissing the appeal:

Explanation 2 to s. 234D makes it clear that the provisions of the section shall not apply to an assessment year commencing before the 1st day of June, 2003 if the proceedings in respect of such assessment year is completed before the said date. As the assessment order in the present case was passed before 1.6.2003, the question of retrospectivity of s. 234D does not arise.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions