Section 245 d(6a)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 December 2011
Dear Sir,
We have recieved an order from Income tax settlement commission u/s 245D(4) on 30/08/2011. In the said order an addition in income of Rs. 1 cr has been made by the commission.The Commission has given to pay the tax on additional income with in 3 months from the date of order.
HowevertThe commission has not calculated any tax liability on additional Income but it directed to respective assessing officer to calculate the tax and issue the demand accordingly.
Assessing officer has calculated the tax on additional income and levied interest u/s 245D(6A)for non payment of tax with in 35 days from the date of order dated 30/08/2011. when we argued for levied interest u/s 245D(6A) THE a o said that no you have to pay interest as per demand because section 245D(6A) is applicable from the date of order as passed by the Settlement Commission.
But my view is that if we have not recd any demand from the department how we can make payment.
Secondly whether An order passed by settlement commission without mentioning any tax liability is a complete order for levieng interest u/s 245D(6A).
Kindly give me advice as soon as possible
Thankin you
CA Pravin Singh
We have recieved an order from Income tax settlement commission u/s 245D(4) on 30/08/2011. In the said order an addition in income of Rs. 1 cr has been made by the commission.The Commission has given to pay the tax on additional income with in 3 months from the date of order.
HowevertThe commission has not calculated any tax liability on additional Income but it directed to respective assessing officer to calculate the tax and issue the demand accordingly.
Assessing officer has calculated the tax on additional income and levied interest u/s 245D(6A)for non payment of tax with in 35 days from the date of order dated 30/08/2011. when we argued for levied interest u/s 245D(6A) THE a o said that no you have to pay interest as per demand because section 245D(6A) is applicable from the date of order as passed by the Settlement Commission.
But my view is that if we have not recd any demand from the department how we can make payment.
Secondly whether An order passed by settlement commission without mentioning any tax liability is a complete order for levieng interest u/s 245D(6A).
Kindly give me advice as soon as possible
Thankin you
CA Pravin Singh
13 December 2011
Interest is payable even if the settlement commission has extended the period.
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 December 2011
so what is the effective date for exclusion of 35 days
order passed by Settlement commission
or
Order passed by A O by to giving effect to settlement Commission
Pravin Singh
order passed by Settlement commission
or
Order passed by A O by to giving effect to settlement Commission
Pravin Singh
13 December 2011
order passed by settlement commission.
(this is an interpretation only, no caselaw to support, u can fight for 35 days)
(this is an interpretation only, no caselaw to support, u can fight for 35 days)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
