Recourse for Usurious Interest in India: Key Options

2024 0 Supreme(Gau) 828

An amount of Rs. 158.12 crores were levied as interest. X. ... However, in the case in hand, the impugned assessment order shows that after the order of the Hon’ble Apex court, the balance due was nil. However, taking recourse to sub-section 3 of section 22, the interest was imposed on the ground that amount due was paid subsequent to its due date. ... can be levied. ... In the case of Hari Singh Vs. ... Gogoi argues that the interest was l....

2025 Supreme(Online)(Kar) 36158

interest in regard to the ITC available with the Department. ... In my considered view, the proper application of Section 50 is one where interest is levied on a belated cash payment but not on ITC available all the while with the Department to the credit of the assessee. The latter being available with the Department is, in my view, neither belated nor delayed. ... levied during the aforesaid period. ... An amount available in the account of a perso....

2025 Supreme(Online)(Kar) 36267

interest in regard to the ITC available with the Department. ... In my considered view, the proper application of Section 50 is one where interest is levied on a belated cash payment but not on ITC available all the while with the Department to the credit of the assessee. The latter being available with the Department is, in my view, neither belated nor delayed. ... levied during the aforesaid period. ... An amount available in the account of a pers....

Schrader, Esq.) delivered the following judgment: - In this case the minor plaintiff is entitled to a l/32nd part of the land Mulanegodabedda and to a half, subject to the life interest of second defendant, her grandmother Gimarah. ... IN  this case the first plaintiff-appellant as absolute owner of l/32nd share and of another half, which is subject to a life interest in favour of the second respondent, of the land called Mulanegodabedda, alleged that the first respondent, who owned no share of the said land, ......

2025 0 Supreme(Guj) 2016

Therefore, no interest can be levied from the date of deposit of the amount by the assessee in the electronic cash ledger till the time the return in Form GSTR-3B is submitted. 15. ... Therefore the purpose of introduction of the proviso to Section 50 was only to clarify with regard to levibility of the interest on net tax liability and not on gross tax liability of the assessee. The proviso has therefore nothing to do with the period for which the interest is to be levied. ... Therefore, the ....

2023 0 Supreme(Del) 2133

It is in this context the Court ruled that the refund on account of inverted duty structure was available only against input tax levied on goods, and not services. ... (vi) Thus, liberty was given to the assessee to take recourse to an appeal/objection qua the direction contained in the order dated 14.08.2020, whereby revenue had declined grant of interest. ... However, the writ petition was disposed of on 20.08.2020, having regard to the fact that the assessee had an efficacious alternate remedy available#HL_....

2023 0 Supreme(Bom) 2352

The license fee interest demanded in the present case is on the amount of license renewal fee of Rs. 1,44,11,060/- and it is to the extent of Rs. 2,86,58,892/-. ... However, we would like to clarify that the interest, under Section 114 , would be payable from the date it becomes due or from the date of demand as the case may be. ... When we apply the above referred law to the facts of the present case, we find that Respondents have committed a serious error of law and facts in charging inter....

Patna High Court - Principal Bench Patna

To hold and declare that the interest and penalty levied on assessed tax is wholly bad and in accordance with law; Patliputra Circle-Patna dated 27.01.2020 whereby However, having heard learned counsel for the parties as (o) Equally, liberty reserved to the parties to take recourse

Patna

IN THE HIGH COURT OF JUDICATURE AT PATNA Central Goods and Cervices Act, 2017 (hereinafter Respondents have acted in complete contravention (g) We are hopeful that as and when petitioner takes (f) Equally, liberty is reserved to the petitioner to take recourse

2023 0 Supreme(UK) 295

under section 28 or under section 34 of the Act, was to be decided by the civil court, the Hon’ble Apex Court, therein, has observed that Article 226 of the Constitution of India could be also a remedy, which is available to the land looser to resort to the recourse for remittance of the interest amount ... case will not be applicable because it will amount to stretching too far the beneficial legislation of the entitlement of the interest of the land looser. ... In the light of the foregoing discussion....

2021 0 Supreme(Ori) 230

The question is, in such a scenario what recourse is available to the Court. Would it be reasonable to direct the Court below to ask the prosecution to obtain sanction for the prosecution at this distance of time? It must be kept in mind that the Final Report was submitted as far back as on 30.08.2003 that is, more than 18 years back.

2019 0 Supreme(SC) 1189

Whether interest and penalty have to be levied or not is to be gone into on the facts and circumstances of the case.

2014 0 Supreme(Mad) 2946

The next contention raised by the learned counsel is that interest could be levied only after completion of the assessment and the observation made by the first respondent in the impugned orders regarding levy of interest is illegal. In this regard, reliance was placed on the decision of the Honourable Supreme Court in the case of E.I.D Parry (I) Ltd. v. Asst. Commr. of C.T. (SC), reported in 2005 (141) STC 12.

2013 0 Supreme(Kar) 1079

The tax levied by AA as directed by the FAA is cancelled. Consequently penalty and interest levied if any is also cancelled. (3) Keep the original judgment in STA No. 338 of 2010 and copies of the same in STA Nos. 339 to 378 of 2010. (4) The Registrar to comply Regulation 53(b) of Chapter IX of the Karnataka Appellate Tribunal Regulations, 1979 to send the copies of the judgment.

2011 0 Supreme(Ker) 76

1. The common question raised in these two appeals filed by the Revenue against the very same assessee is whether in a reassessment completed under Section 153A read with Section 143 (1) of the Income Tax Act (hereinafter referred to as the Act for short), interest for short payment of advance tax is to be demanded for the period provided under Section 234B(1) or Section 234B(3) of the Act. While the case of the department is that interest is leviable under Section 234B(1) for the period stated therein, the case of the assessee is that interest could be levied under Section 234B(3)....