Back
SONIA GOKANI, SANDEEP N. BHATT
Shiv Shipping Services – Appellant
Versus
Income Tax Settlement Commission, Addl. Bench II – Respondent
JUDGMENT :
SONIA GOKANI, J.
1. The petitioner is before this Court seeking to challenge the order dated 29.01.2021 passed by the respondent under Section 245(D) of the Income Tax Act for the Assessment Year 2012-13 to 2018-19 as the interest under Section 234B(2A) of the Act has been levied without allowing the credit of prepaid taxes.
2. The petitioner has prayed the following prayers :
(a) quash and set aside the computation of interest under Section 234B(2A) in the impugned order at Annexure-’A’ to this petition and the same may be made giving effect to the prepaid taxes;
(b) pending the admission, hearing and final disposal of this petition, to direct the respondent No.2 not to recover the settled amount to the extent of interest under Section 234B(2A).”
3. A survey under Section 133A of the Income Tax Act was carried out by the Income Tax Department on 15.03.2018 and 16.03.2018 at the premises of the petitioner group.
The
The main legal point established in the judgment is that interest under Section 234B(2A) of the Income Tax Act should be calculated only on the additional amount of income tax after providing the set....
The Settlement Commission cannot waive or reduce mandatory interest obligations under the Income Tax Act, with interest on undisclosed income calculated from the due tax payment date until the Commis....
The main legal point established in the judgment is that the order of the Settlement Commission should be in conformity with the provisions of the law, and reasons must be given for the decision.
The court emphasized the necessity for a reasoned order addressing all material contentions raised by the petitioner, particularly regarding the impact of the COVID-19 pandemic on estimating income f....
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
