Merely Raising Dispute Before Any Authority Not A Ground To Waive Interest U/Sec 220(2A) Income Tax Act : Supreme Court
2 years, 1 month ago

Merely Raising Dispute Before Any Authority Not A Ground To Waive Interest U/Sec 220(2A) Income Tax Act : Supreme Court

Live Law  

The Supreme Court observed that the levy of simple interest on non-payment of the tax @ 1% p.a. is mandatory.Merely raising the dispute before any authority cannot be a ground not to levy the interest and/or waiver of interest under Section 220 of the Income Tax Act, the bench of Justices MR Shah and MM Sundresh observed.In this case, the Competent Authority rejected the application of. Merely raising the dispute before any authority cannot be a ground not to levy the interest and/or waiver of interest under Section 220 of the Income Tax Act, the bench of Justices MR Shah and MM Sundresh observed. Expressing complete agreement with the view expressed by the High Court, the Apex court bench observed: "Merely raising the dispute before any authority cannot be a ground not to levy the interest and/or waiver of interest under Section 220 of the Act. Mr. Raj Bahadur Yadav, AOR Headnotes Income Tax Act, 1961 ; Section 220 - Merely raising the dispute before any authority cannot be a ground not to levy the interest and/or waiver of interest under Section 220 - Otherwise each and every assessee may raise a dispute and thereafter may contend that as the assessee was bona fidely litigating and therefore no interest shall be leviable - Under Section 220 of the Act, the levy of simple interest on non-payment of the tax @ 1% p.a.

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History of this topic

Department Can't Deny Grant For Waiver Of Interest U/S 234C Of IT Act Without Disposing Of Issues Flagged By Taxpayer: Bombay High Court
1 month, 2 weeks ago

Department Can't Deny Grant For Waiver Of Interest U/S 234C Of IT Act Without Disposing Of Issues Flagged By Taxpayer: Bombay High Court

Live Law  

The Bombay High Court recently clarified that the Chief Commissioner of Income Tax ought to have addressed the issues/justification as flagged by the taxpayer in supporting its case for grant of waiver of interest u/s 234C. Observations of High Court: From perusal of the application of petitioner for waiver of interest u/s 234C addressed to the respondent/ Revenue, the Bench …

IT Act | Challenge To Notice Under S.226, Without Challenge To Demand Under S.200A, Not Maintainable: J&K&L High Court
2 years ago

IT Act | Challenge To Notice Under S.226, Without Challenge To Demand Under S.200A, Not Maintainable: J&K&L High Court

Live Law  

The Jammu and Kashmir and Ladakh High Court on Tuesday ruled that a challenge to the notices issued by the Assessing authority under Section 226, without challenging the intimation of demand made by the Assessing authority under Section 200A of the Income Tax Act is not maintainable. 3, the intimation under Section 200A was treated as a notice of demand …

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