Past adjustment of refunds against the arrears where procedure u/s 245 of Income Tax Act was not followed
INSTRUCTION NO. 6/2013 DATED 10-7-2013 Subject: Past adjustment of refunds against the arrears where procedure u/s 245 of Income Tax Act was not followed - regarding. Hon'ble Delhi High Court vide its judgement in case of Court On Its Own Motion Vs. UOI and Others in W.P.(C) 2659/2012 dated 14.03.2013 has issued seven Mandamus for necessary action… Read More
Tags: Delhi High Court, Hon, Income tax, Income Tax Act, Income Tax Act 1961, Mandamus, Order (biology), The Honourable
Interest Payment at 15% u/s 40A(2)(b) to related parties is not considered to be excessive
CLR Editorial Notes: This appeal was presented by the assessee for the assessment year 2007-2008 which was directed against the order of the CIT(A)-XXI. The contention of the assessee was that the CIT (A) had erred in confirming the addition u/s 40A(2)(b) of a said amount which was alleged to be an excessive payment of interest by 3%, and also overlooked the… Read More
Tags: Appeal, CIT, Commonwealth Law Reports, Finance Act, HUF, Order (biology), Order of Australia, transfer pricing