Interest on refund of penalty
This query is : Resolved
25 April 2014
Sir,
Penalty u/s 276(1)(c) was levied on assessee for undisclosed income and was susequently paid. Further we went for appeal for non-imposition of penalty U/s 276(1)(c) and it was in our favour. Whether the assessee should get interest on this refund of amount of penalty from the dept.
Kindly help me out as soon as possible.
Penalty u/s 276(1)(c) was levied on assessee for undisclosed income and was susequently paid. Further we went for appeal for non-imposition of penalty U/s 276(1)(c) and it was in our favour. Whether the assessee should get interest on this refund of amount of penalty from the dept.
Kindly help me out as soon as possible.
27 April 2014
YES IF REFUND IS NOT PAID WITHIN SPECIFIED TIME THAN U ARE LIABLE TO GET REFUND SECTION 244A
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
- About TDS & Income Tax
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- PPF interest-As Exempt Income disclosure
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- F & O PROFIT REPORTING FOR AY 2026-27
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
