final g.....Tags : Interest rates, marginal cost, rbi
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Banking Regulation Act, 1949 - Section 26A Depositor Education and Awareness Fund Scheme, 2014 - Operational Guidelines - Payment of Interest(07.06.2018)
Please refer to the circular DBOD.No.DEA Fund Cell.BC.126/30.01.002/2013-14 dated June 26, 2014 on the captioned subject, wherein Reserve Bank had spe.....
Tags : Interest Rate, Payment, Operational Guidelines
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Deposits made under the Senior Citizens Welfare Fund shall bear interest at 3.35%(23.11.2021)
It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affa.....
Tags : Deposits, Welfare Fund, Interest
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Rate of Interest on Floating Rate Savings Bond, 2020 (Taxable) - FRSB 2020 (T) for the Period January 01, 2024 - June 30, 2024(01.01.2024)
1. In terms of Para 13 (ii) of Government of India Notification F.No.4(10)- B(W&M)/2020 dated June 26, 2020 on Floating Rate Savings Bonds, 2020 (Taxa.....
Tags : Rate, Interest, Savings Bond
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"TRAI conducts "Consumer Outreach Programme (COP)" on 27.04.2018 at Gurgaon, Haryana(02.05.2018)
One of important objectives of TRAI is to safeguard consumer interests and create consumer awareness. Towards this objective, TRAI organizes consumer .....
Tags : Consumer outreach, Programmes, Workshops, Consumer interests
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EPFO Raises Rate Marginally to 8.8% for FY16(17.02.2016)
Employees' Provident Fund Organisation (EPFO) has marginally raised interest rate on retirement savings to 8.80% for 2015 -16 from 8.75% last year but.....
Tags : Employees' Provident Fund Organisation, interest rate on retirement savings
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RBI Policy: Interest Rates Unchanged, GDP Growth Forecast Lowered(06.12.2019)
Reserve Bank of India has released its fifth bi-monthly monetary policy statement for 2019-20 in which the Monetary Policy Committee, decided to keep .....
Tags : RBI Policy, Interest Rates
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CBIC Directs GSTN to Waive Off Late Fees and Interest Due to Technical Glitches(22.09.2021)
Central Board of Indirect Taxes and Customs (CBIC) has directed the Goods and Service Tax Networks to waive off Late Fees and interest for one day du.....
Tags : Central Board of Indirect Taxes and Customs, Late Fees and Interest
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SC Pulls Up Centre for Not Clarifying Stand on Interest During Moratorium(27.08.2020)
Supreme Court has rebuked the Central Government for not clarifying its stand on the issue of interests payable on EMI loans during the COVID-19 induc.....
Tags : Supreme Court, Interest During Moratorium
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Bombay High Court: Interest of Child is Best Served if Parents Live Together(29.12.2015)
Bombay High Court while hearing a custody matter, has observed that the interest of child would be best served if her parents decide to live together.
Tags : Bombay High Court , Interest of Child
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Bombay HC Rejects PIL Seeking New Commission to Probe Gandhi Murder(07.06.2016)
Bombay HC has dismissed a public interest litigation (PIL) seeking appointment of a Commission of Inquiry to probe afresh the murder of Mahatma Gandhi.....
Tags : Bombay HC, public interest litigation
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ITAT, Mumbai: Interest on Delay in Payment of Advancements Charged Only on Returned Income(27.01.2022)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the interest on delay in payment of advancements shall be charged only on the returned inco.....
Tags : Income Tax Appellate Tribunal, Interest on Delay in Payment of Advancements
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Exemption to Interest Income on Specified Off-shore Rupee Denominated Bonds(17.09.2018)
Interest payable by an Indian company or a business trust to a non-resident, including a foreign company, in respect of rupee denominated bond issued .....
Tags : Interest Income, Denominated Bonds Exemption
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Rate of interest on Government of India Floating Rate Bond, 2024(06.05.2024)
The rate of interest on Government of India Floating Rate Bond 2024 (FRB 2024) applicable for the half year May 07, 2024 to November 06, 2024 shall be.....
Tags : Interest, Floating Rate Bond
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Karnataka HC Dismisses Appeal Challenging Order to Reduce Interest on Home Loan(27.01.2022)
Karnataka High Court has dismissed an appeal filed by Canara Bank (E-Syndicate Bank) challenging an order of the Single judge by which it was directed.....
Tags : Karnataka High Court, Order to Reduce Interest on Home Loan
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Supreme Court: Public Interest Litigations Raising Personal Grievances Canât be Entertained(29.01.2024)
Supreme Court while dismissing a Public Interest Litigation which sought directions to implement the recommendations of the NITI AYOG on streamlining .....
Tags : Supreme Court, Public Interest Litigation, NITI AYOG
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ITAT: Loan On Interest From Sister Concern Does Amount To âDeemed Dividendâ(17.11.2021)
Income Tax Appellate Tribunal (ITAT), Delhi bench has held that loan on interest received from the sister concern to fulfill the enhanced requirement .....
Tags : ITAT, Loan on Interest, Deemed Dividend
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Lok Sabha Passes Bill Seeking Expeditious Recovery of Bad Loans by Banks(02.08.2016)
Lok Sabha has passed the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016, which provid.....
Tags : Lok Sabha, Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016
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Supreme Court: Payment of Loan Amount to NBFC Along With Decided Rate of Interest Non-Refundable(05.03.2024)
Supreme Court has held that if a person has executed an agreement and repaid the loan amount obtained with the interest as per the terms of the agreem.....
Tags : Supreme Court, Payment of Loan, NBFC, Rate of Interest
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SC: Canât Claim Refund of Interest Amount if Loan Amount Paid With Decided Rate of Interest(05.03.2024)
Supreme Court has held that if a person has executed an agreement and repaid the loan amount obtained with the interest as per the terms of the agreem.....
Tags : Supreme Court, Payment of Loan, NBFC, Rate of Interest
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J&K HC: Valuation of Leasehold Interest in Land Can be Done Since it is an Asset to the Company(06.03.2024)
Jammu and Kashmir and Ladakh High Court has held that valuation of leasehold interest in land can be done as it is an asset of the company.
Tags : Jammu and Kashmir High Court, Leasehold Interest, Valuation
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RBI Slashes Key Rate 40 Basis Points to New All-Time Low(25.05.2020)
Reserve Bank of India has cut key interest rates by 40 basis points to a new low of 4%, citing an assessment of Gross Domestic Product contraction in .....
Tags : Reserve Bank of India, Interest Rates
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Del. HC: SOPs to be Followed by Colleges During Events, Framed by Delhi Police(24.04.2024)
Delhi High Court has closed a suo motu Public Interest Litigation filed on issues of security breaches at events organized by colleges, after Delhi Po.....
Tags : Delhi High Court, Public Interest Litigation, Standard Operating Procedure
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Suo Motu PIL Initiated by Telangana HC on Sr. Advocateâs Letter Alleging Handcuffing of Accused(24.04.2024)
Tel. HC has initiated a suo motu Public Interest Litigation (PIL) based on a letter received by a senior advocate who alleged handcuffing of three acc.....
Tags : Telangana High Court, Public Interest Litigation, Senior Advocate
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Bom. HC: Tender Conditions Challenged by Contractors Through PIL Pollute Purity of Stream of PIL(25.04.2024)
Bombay High Court has held that permitting a contractor to file a public interest litigation (PIL) petition challenging the conditions of a tender, is.....
Tags : Bombay High Court, Tender Conditions, Public Interest Litigation
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Bombay HC: Assessee Required to Pay Interest Where Advance Tax Paid Less Than 75%(29.12.2021)
Bombay High Court has held that the assessee is required to pay interest where advance tax paid is less than 75% of the assessed tax in case against B.....
Tags : Bombay High Court, Interest on Advance Tax
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Kar. HC: Board Exams Proposed to be Conducted for Classes 5 to 9 and 11 are in Studentâs Interest(15.03.2024)
Karnataka High Court has observed that no student or parent has come before the court because conducting the exam is in their interest and if the exam.....
Tags : Karnataka High Court, Board Exams, Studentâs Interest
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SC: Courts Should Strike Balance Between Testimony of âInjured Witnessâ and âInterested Witnessâ(20.03.2024)
Supreme Court has held that it is a well-established principle of law that the evidence of an injured witness is considered to be on a higher pedestal.....
Tags : Supreme Court, Injured Witness, Interested Witness, Testimony
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Delhi HC: Award of Interest Contrary to Terms of Agreement Can be Challenged(02.02.2022)
Delhi High Court has reiterated that the award of interest contrary to the express terms of the agreement between the parties would be susceptible to .....
Tags : Delhi High Court, Award of Interest
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ITAT, Ahmedabad: No Disallowance for Interest Expenses if Investment to Acquire Control(03.02.2022)
Income Tax Appellate Tribunal (ITAT), Ahmedabad has held that no disallowance can be made for interest expenses if the investment was made to acquire .....
Tags : Income Tax Appellate Tribunal, No Disallowance for Interest Expenses
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PIL Seeking âAuthoritative Interpretationâ of Section 66 PMLA Refused by Delhi High Court(29.04.2024)
Delhi High Court has refused to entertain a Public Interest Litigation (PIL) that sought an authoritative interpretation of Section 66 of the Preventi.....
Tags : Delhi High Court, Public Interest Litigation, Authoritative Interpretation
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Interest Subvention (IS) and Prompt Repayment Incentive (PRI) for Short Term Crop Loans during the years 2018-19 and 2019-20: Extended Period on account of Covid-19(21.04.2020)
1. Please refer to circular FIDD.CO.FSD.BC.No.15/05.02.001/2018-19 dated March 7, 2019 regarding Interest Subvention Scheme for Short Term Crop Loans .....
Tags : Interest Subvention, Extension, Covid-19
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Ker. HC: Payment of Interest Canât be Reviewed or Added While Enforcing Foreign Award(01.05.2024)
Ker. HC has held that the executing court cannot review a foreign award or add anything to it. Moreover, the executing court cannot go behind the decr.....
Tags : Kerala High Court, Executing Court, Foreign Award, Payment of Interest
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Public Interest Litigation to Remove Chief Minister Arvind Kejriwal Refused by Delhi High Court(05.04.2024)
Delhi High Court has refused to entertain a public interest litigation that sought the removal of Chief Minister Arvind Kejriwal on the ground that th.....
Tags : Delhi High Court, Public Interest Litigation, Chief Minister
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Supreme Court Issues Notice to Centre and RBI on Interest on Loans During Moratorium(26.05.2020)
Supreme Court has issued notice to the Centre and Reserve Bank of India (RBI) in a plea regarding the levy of interest on loan amounts during the stip.....
Tags : Supreme Court, Interest on Loans During Moratorium
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All. HC: Filing PIL on Issues Already Decided Amounts to Manipulation & Misleading of Court(08.04.2024)
Allahabad High Court while imposing a fine of Rupees Fifty Thousand on Bhartiya Kisan Union Pathik for filing Public Interest Litigation (PIL) on issu.....
Tags : Allahabad High Court, Public Interest Litigation, Bhartiya Kisan Union Pathik, Manipulation
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Ker. HC: Academic Interests of Children Must be Delicately Balanced With Right to Recreation(09.04.2024)
Kerala High Court while allowing CBSE and ICSE Boards to conduct vacation classes, has held that it is to be considered by the State as to how a balan.....
Tags : Kerala High Court, Academic Interests, CBSE, ICSE, Vacation Classes
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Supreme Court: "We Do Not Want Politics to Shift to Courts"(02.12.2016)
Supreme Court, while hearing arguments on whether a political party can file and pursue a Public Interest Litigation (PIL), has observed that, "We do .....
Tags : Supreme Court, political party, public Interest Litigation
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Kar. HC: Cannot Make Construction of Memorial for Film Actor Subject Matter of PIL(05.06.2024)
Karnataka High Court has observed that construction of memorial of a film star cannot become subject matter of public interest litigation (PIL). It is.....
Tags : Karnataka High Court, Public Interest Litigation, Film Actor
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Karnataka HC: PIL Seeking Declaration that Temples are Not Public Authorities, Dismissed(13.06.2024)
Karnataka High Court has dismissed a Public Interest Litigation (PIL) seeking a declaration that temples in Karnataka are not public authorities withi.....
Tags : Karnataka High Court, Public Interest Litigation, Right to Information
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ITAT, Mumbai: Interest on Investments in Co-operative Bank Eligible for Deduction(24.02.2020)
Income Tax Appellate Tribunal (ITAT), Mumbai has held that the interest income earned by a co-operative society on its investments held with a co-oper.....
Tags : Income Tax Appellate Tribunal, Interest on Investments in Co-operative Bank
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ITAT, Dehradun: Interest on Income Tax Refund Not on Permanent Establishment Not Business Income(14.03.2022)
Income Tax Appellate Tribunal, Dehradun has ruled that interest on income tax refund received by a foreign enterprise is not effectively connected to .....
Tags : Income Tax Appellate Tribunal, Interest on Income Tax Refund
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Supreme Court Grants Relief to Company to Pay OTS Amount with Interest(14.03.2022)
Supreme Court has granted relief to a company to pay OTS amount with interest considering that the default in payment was due to Covid.
Tags : Supreme Court, OTS Amount with Interest
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All HC: SI Fixed at 6% p.a On Excess/Less Determination of Provi. Tariff Ultra Vires Electricity Act(20.05.2024)
All HC has struck down Regulation 5A of Central Electricity Regulatory Commission (Terms and Conditions of Tariff) (First Amendment), Regulations, 200.....
Tags : Allahabad High Court, Simple Interest, Provisional Tariff
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President Gives Assent to Recovery Laws(19.08.2016)
President has given assent to the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016.
Tags : President, Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016
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Rajasthan HC Dismisses PIL Seeking Direction to Conduct Census to Centre in Specific Time Frame(20.04.2022)
Rajasthan High Court has dismissed a public interest litigation seeking a direction to Union government to conduct the Census in scheduled timeline, s.....
Tags : Rajasthan High Court, a public interest litigation, Union government, Section 3 of the Census Act, 1948, ultra vires
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Delhi HC Issues Notice on PIL Seeking to Fill up Staff Vacancies in City Prisons(20.04.2022)
Delhi High Court has issued notice on a Public Interest Litigation seeking filling up of various staff vacancies in city prisons with those of Medical.....
Tags : Delhi High Court, Public Interest Litigation, Medical Officers, Welfare Officers, Counsellors, Teachers for Education, Yoga Teachers, Education Vocational Counsellors
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Delhi HC Issues Notice on Plea to Centre Challenging Vires of Waqf Act(20.04.2022)
Delhi High Court has issued notice on a public interest litigation filed seeking uniform law for Trust and Trustees, Charities and Charitable Institut.....
Tags : Delhi High Court, public interest litigation, Waqf Act, 1995, Charities and Charitable Institutions and Religious Endowments
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Kar HC: PIL Seeking Direction for Government Correspondence to be Done in Kannada Language, Rejected(28.06.2024)
Karnataka High Court has refused to entertain a Public Interest Litigation (PIL) that sought direction on the State Government to use Kannada language.....
Tags : Karnataka High Court, Public Interest Litigation, Kannada Language
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All. HC: Extension of Benefits of Schemes for SC, STs/OBCs to BPL Card Holders is a Matter of Policy(08.07.2024)
All. HC while disposing a PIL seeking extension of benefits of Schemes meant for SC, ST, OBC and Minorities to BPL, has observed that issues raised fa.....
Tags : Allahabad High Court, Public Interest Litigation, Policy Matters
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SC: Not Uncommon for Diff. Statutes Concerning Similar Area of Law to Have Convergence of Interest(18.07.2024)
Supreme Court has held that it is not uncommon for different statutes, concerning similar area of law, to have convergence of interests to some degree.....
Tags : Supreme Court, Convergence of Interests, Different Statutes
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Mad. HC: Proposed Changes in Criminal Laws Could have been Brought Through Amendments(19.07.2024)
Madras High Court while listening to Public Interest Litigations (PILs) challenging the constitutionality of the three new criminal laws, has observed.....
Tags : Madras High Court, Public Interest Litigations, Criminal Laws
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Del. HC: PIL Seeking Removal of Videos of Women and Minor on YouTube, Refused(22.07.2024)
Delhi High Court has refused to entertain a Public Interest Litigation (PIL) seeking removal of videos of women and minor girls that were uploaded on .....
Tags : Delhi High Court, Public Interest Litigation, YouTube
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Del. HC: PIL Seeking Removal of Videos of Women and Minor on YouTube, Refused(22.07.2024)
Delhi High Court has refused to entertain a Public Interest Litigation (PIL) seeking removal of videos of women and minor girls that were uploaded on .....
Tags : Delhi High Court, Public Interest Litigation, YouTube
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All. HC: UOIâs Reply Sought in PIL Challenging Declaration of June 25 as 'Samvidhaan Hatya Diwas'(23.07.2024)
Allahabad High Court has directed the Union of India to file a reply in a Public Interest Litigation (PIL) that has challenged governmentâs decision t.....
Tags : Allahabad High Court, Public Interest Litigation, Samvidhaan Hatya Diwas
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Judgments
Constitutionality of Food Safety and Standards Act, 2006 upheld(16.09.2015)
The Bombay High Court summarised its position on the constitutionality and vires of the Food Safety and Standards Act, 2006 as thus: ââŠif preventing f.....
Tags : Food safety, constitutionality, public interest
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Petition against appointment of additional nature guides at Ranthambore rejected(09.09.2015)
Rajasthan High Court dismissed a petition by nature guides at Ranthambore National park against the appointment of additional guides. Noting that the .....
Tags : Ranthambore, nature guide, vested interest
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Interest and penalty not imposable where credit wrongly availed, reversed prior to utilization(08.08.2016)
Issue involved was relating to liability to pay interest on cenvat credit availed by Appellant but not utilized and reversed subsequently. In present .....
Tags : Cenvat credit, Interest, Liability
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Interest would be payable from date on which CENVAT credit is wrongly taken or utilized(03.11.2016)
Appellant is engaged in manufacture of electronic connector harness and other IT products availed CENVAT credit of duty paid on inputs and capital goo.....
Tags : CENVAT credit, Interest, Levy
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Person holding premises gratuitously or as caretaker or servant would not acquire any interest in property even by long possession(06.01.2017)
Instant appeal challenges judgment passed by High Court of Bombay setting aside Order passed by Bombay City Civil Court. Said Notice of Motion was dis.....
Tags : Property, Possession, Caretaker, Interest
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For erroneous credit availed, even if, not utilized, interest could be applicable for the normal period of limitation(19.01.2018)
In the facts of present case, the Appellant had wrongly taken excess credit of Rs. 9,97,32,292 during the period September 2008 to January 2009 on imp.....
Tags : Excess credit, Interest, Payment
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Disclosure of bankâs business dissuades âwindow-dressingâ, in public interest(28.06.2016)
âAny action that results in dissuading commercial entities from indulging in practices such as window-dressing would be in larger public interestâ, th.....
Tags : rti, exemption, bank, business mix, public interest
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Bank cannot refuse any payment which is made by a loanee of outstanding amount(19.06.2018)
The appeal has been preferred against the order passed by the learned single Judge, who has exonerated the private Respondent from making further paym.....
Tags : Outstanding dues, Interest, Payment
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Authorities are entitled to claim exemption when disclosure of information risks possibility of its misuse(15.05.2019)
In facts of the present case, the Appellant filed an application under the Right to Information Act, 2005 (RTI Act) before the Central Public Informat.....
Tags : Information, Disclosure, Public interest
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If amount is not voluntarily paid by assessee and later on case is decided in his favour, then he is entitled to interest from date of deposits made by assessee(18.11.2019)
The present appeal is directed against the impugned order passed by the Commissioner (Appeals) whereby the Commissioner (Appeals) has allowed the inte.....
Tags : Interest, Entitlement, Date
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Department can re-open proceedings after issuance of discharge certificate only when there is substantial and conscious mis-declaration(21.10.2019)
The brief facts of the case are that, the Respondents filed VCES declaration under Section 107 of the Finance Act, 2013 as amended. They paid service .....
Tags : Demand, Interest, Deletion, Legality
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Recovery of interest on delayed period even though claimed after taking possession is maintainable(14.03.2019)
In facts of present case, Appellant-allottee has challenged the final order passed by Learned Member and Adjudicating Officer of MahaRERA Authority in.....
Tags : Delayed possession, Interest, Entitlement
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Promoter is liable to pay interest to the complainant on failure to fulfil his obligation(28.02.2019)
A complaint was filed under section 31 of the Real Estate (Regulation and Development) Act, 2016 read with rule 28 of the Haryana Real Estate (Regulat.....
Tags : Delayed possession, Interest, Legality
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Interest alone cannot be construed as operational debt(11.02.2020)
Present appeal emanates from the order passed by the Adjudicating Authority on the application filed under Section 9 of the Insolvency and Bankruptcy .....
Tags : Delayed payment, Interest, Operational Debt
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No interest is payable, when clauses agreement bars arbitrators from granting interest(07.02.2019)
In present matter, the Appellant herein was awarded the contract under which it was to execute certain Works. Agreement in this behalf was signed on 1.....
Tags : Award, Interest, Legality
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Before entertaining a writ petition and passing any interim orders, Court must carefully weigh conflicting public interests(24.06.2020)
The present appeals are directed against the interim order passed by the High Court whereby in an intra-court appeal, the High Court passed an order o.....
Tags : Public interest, Interim order, Legality
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Integrity of judicial officer must be of a higher order and even a single aberration is not permitted(27.02.2020)
Present writ petitions have been filed by two erstwhile judicial officers who were members of the judicial service in the State of Jharkhand and are d.....
Tags : Compulsory retirement, Public interest, Legality
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Court cannot grant interlocutory injunction, unmindful of the existence of a prima facie case merely on basis of public interest(18.09.2020)
Present application, preferred by the Appellant praying for permitting the applicant to manufacture and sell its product "APIXABID", a generic product.....
Tags : Public interest, Permission, Sale
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Interest can be capitalized only in respect of capital assets purchased out of borrowed funds(04.09.2020)
The revenue has filed present appeal challenging the decision rendered by Learned CIT(A) in respect of disallowance of interest expenditure made by th.....
Tags : Interest, Disallowance, Legality
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Authority under RERA Act, 2016 is empowered to impose interest on contravention of obligations by promoter(04.11.2020)
In facts of present case, the Petitioner is a promoter. The Respondent Nos.3 to 119 are allottees. The Petitioner could not deliver possession of the .....
Tags : Interest, Levy, Validity
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No larger public interest overriding the right to privacy of the donors and donees of electoral bonds; information are exempt under provisions of RTI Act(21.12.2020)
The Appellant has filed the instant appeal on the grounds that, reply given by the CPIO was wrong, incomplete and misleading. The Appellant pleaded th.....
Tags : Information, Disclosure, Public interest
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If Refund is delayed by three months after filling Application for Refund, claimant becomes eligible to get interest(01.04.2021)
The Appellant has filed present Appeal against the impugned order-in-appeal passed by the Commissioner (Appeals), CGST and Central Excise, wherein SAD.....
Tags : Refund, Interest, Entitlement
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An employee has a right to claim interest on delayed payment of retirement benefits(21.06.2021)
The writ Petitioner joined Durgapur Projects Limited, a Government of West Bengal Enterprise, on August 18, 1980. Durgapur Projects Limited is a State.....
Tags : Gratuity, Interest, Entitlement
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Once the borrowed funds were utilized for business purposes, interest paid on same becomes an allowable deduction under Section 36(i)(iii) of the IT Act(02.08.2021)
Present appeal arises out of the order by the learned Commissioner of Income Tax (Appeals). The ground raised by the assessee is with regard to challe.....
Tags : Disallowance, Interest, Legality
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If the contract prohibits pre-reference and pendente lite interest, the arbitrator cannot award interest for the said period(04.10.2021)
Present appeal is directed against the Order of the Division Bench of the High Court whereby it has upheld the judgment of the learned Single Judge re.....
Tags : Award, Interest, Entitlement
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Credit on Outdoor Catering Service to the extent of contribution of services charges borne by the employee is not Cenvatable(03.09.2021)
The issue involved in the present case is that whether the Appellant is liable to pay interest on the Cenvat credit availed on the contribution of ser.....
Tags : Demand, Interest, Legality
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If there is a specific contract between the parties that proscribes award of interest, award of pre-reference interest would be impermissible(20.12.2021)
The Petitioner (the 'Railway') has filed the present petition under Section 34 of the Arbitration and Conciliation Act, 1996 ('A and C Act') impugning.....
Tags : Award, Interest, Validity
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Arbitral tribunal has power to award future interests on the awarded amounts, which as expressly provided under Section 31(7)(a), may include interests on the amounts awarded(19.04.2022)
The Petitioner has issued a Notice Inviting Tender for three construction projects. The Respondent being the successful bidder entered into an agreeme.....
Tags : Interest on award, Arbitral Tribunal
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Liability to pay the interest on compensation shall be from the date of accident(11.03.2022)
The heirs of the deceased â labourer working on sugarcane field have preferred the present appeal against the impugned judgment passed by the High Cou.....
Tags : Compensation, Interest, Entitlement
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Statute provides for mandatory payment of interest and there is no discretionary power with the Revenue Authority in the matter of interest(25.05.2022)
The issue involved in present appeal is whether the Commissioner (Appeals) has rightly rejected the claim of interest, on the grant of belated refunds.....
Tags : Refund, Interest, Entitlement
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A person cannot be made to wait indefinitely for possession of flat allotted and is entitled to seek refund of amount paid(02.04.2020)
The Appellant-Builder launched a residential project by the name âAraya Complexâ in Sector 62, Golf Course Extension Road, Gurugram. The Respondent- F.....
Tags : Refund, Interest, Entitlement
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A person cannot be made to wait indefinitely for possession of flat allotted and is entitled to seek refund of amount paid(02.04.2019)
The Appellant-Builder launched a residential project by the name âAraya Complexâ in Sector 62, Golf Course Extension Road, Gurugram. The Respondent- F.....
Tags : Refund, Interest, Entitlement
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Date of filing of refund application needs to be taken for grant of interest(05.04.2022)
The issue involved is whether the Appellant is entitled for interest in respect of the refund claim already granted. The brief facts of the case are t.....
Tags : Refund, Interest, Grant
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Interest earned by the assessee on surplus held with cooperative banks would be eligible for deduction under Section 80P(2)(d) of the IT Act(20.05.2022)
The Revenue is in appeal in respect of the allowability of deduction under Section 80P(2)(d) of the Income Tax Act, 1961 (IT Act) in respect of intere.....
Tags : Interest, Deduction, Eligibility
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Any amount deposited during investigation has to be treated as pre-deposit and the same is neither hit by limitation nor by unjust enrichment(27.09.2022)
The issue involved in present appeal is whether the Court below have erred in reducing the amount of refund, which was in the nature of pre- deposit, .....
Tags : Pre-deposit, Refund, Interest
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Arbitrator has the inherent discretion to grant post-award interest(01.09.2022)
Present appeal arises from a judgment of the High Court by which the appeal under Section 37 of the Arbitration and Conciliation Act 1996 against a ju.....
Tags : Discretion, Award, Interest
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Insurer is liable to pay interest in case of delay beyond the timeline prescribed in Regulation(04.04.2019)
Present Petition under Article 226 of the Constitution of India, seeks a writ of mandamus to Respondent No. 1- Life Insurance Corporation of India (LI.....
Tags : LIC Policy, Payment, Delay, Interest
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In the absence of obligation to deduct tax at source, the assessee cannot be held to be an assessee in default(10.01.2023)
The Appellant is a company incorporated under the provisions of the Companies Act, 1956. It is engaged in the business of dealing in flats constructio.....
Tags : Assessment, Interest, Liability
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Section 14A of IT Act will not apply, if no exempt income is received or receivable during the relevant previous year(06.10.2022)
Present Income Tax Appeal has been filed challenging the Impugned Order passed by the Income Tax Appellate Tribunal ('ITAT') for the Assessment Year 2.....
Tags : Assessment, Expenses, Interest
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Mere taking of cenvat credit in book of account would not entail interest and penalty unless same is drawn from account of the government by way of refund or utilisation against duty dues(23.01.2019)
Appellant manufactures bright bar of stainless steel, and mild steel and mild steel wire. It has registered under the Central Excise Act. It availed c.....
Tags : Duty demand, Interest, Penalty
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Section 220(2) of IT Act does not empower the revenue to demand interest relating back to a set aside order, when a fresh assessment order has been passed thereafter(17.11.2022)
The Assessee is engaged in the business of network design, management, communication, connectivity services and related products. The Assessee filed i.....
Tags : Interest, Deletion, Legality
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Unless there is a specific bar under the contract, it is always open for the Arbitrator/Arbitral Tribunal to award pendente lite interest(17.03.2023)
The Indian Railway Construction Company Limited ("IRCON") has preferred the present appeal feeling aggrieved and dissatisfied with the impugned judgme.....
Tags : Award, Interest, Grant
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Interest should be charged from the date of notice under Section 148 of the IT Act itself and not from the date of return filed(19.04.2023)
The assessee is an individual and derives income mainly from interest and other sources. The return of income under Section 139 of Income Tax Act, 196.....
Tags : Assessment, Interest, Legality
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Intervention of the Court is envisaged only in few circumstances like fraud or bias by the Arbitrators or violation of natural justice(03.10.2017)
The Appellant, in present appeals, has challenged the legality and correctness of the judgment and order passed by High Court of Calcutta. Appellant s.....
Tags : Dispute, Arbitrability, Award, Interest
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Liability to pay advance tax arises only on the accrual of income in the hands of the assessee and not prior(11.07.2023)
The relevant facts in this case are that the assessment proceedings in assesseeâs case for A.Y. 2014-15 were completed on. Thereafter, the AO had issu.....
Tags : Interest, Payment, Liability
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Interest is compensatory in nature and is parasitic on the principal amount(02.06.2023)
The present appeal has been insinuated under Section 37 of the Arbitration and Conciliation Act, 1996 seeking setting aside of the judgment whereby ob.....
Tags : Award, Interest, Legality
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If the Judgment debtor has intimated the decree holder and award amount is available for withdrawal unconditionally, the liability of judgment debtor would cease on the date of deposit(04.09.2023)
By way of present Execution Petitions filed under Section 36 of the Arbitration and Conciliation Act, 1996 ('the A&C Act') read with Order XXI Rule 1 .....
Tags : Award, Execution, Interest
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Mere reflection of demand on e-filing portal does not absolve Revenue from properly serving the intimation and demand notice(04.01.2024)
In present case, the assessee is a resident corporate entity. The core issue arising for consideration is relating to chargeability of interest under .....
Tags : Assessment, Interest, Legality
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If a business has been set up, even it has not commenced its activities, then expenditure relatable to said business, including interest expenses should be allowed as deduction(27.09.2023)
The assessee firm has filed its return of income for the assessment year 2015-16 on 30.09.2015 declaring total income of Rs.1,31,50,650. During the co.....
Tags : Disallowance, Interest, Legality
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When duty drawback is not paid within a period of three months from the date of filing of claim, the claimant would be entitled to interest in addition to the amount of drawback(05.02.2024)
In present matter, Respondent is a class-I contractor specializing in the field of civil contract works especially funnelling and hydro electric power.....
Tags : Interest, Payment, Direction
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Arbitration tribunal empowered to recall order âin the interest of justiceâ(08.07.2016)
An arbitration tribunal can exercise its inherent powers to âsecure the ends of justiceâ, the Chhattisdarh High Court said, allowing claims that the t.....
Tags : chhattisgarh, arbitration, order, recall, interest of justice
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Income received by way of interest on compensation or on enhanced compensation shall be chargeable to tax(08.04.2024)
The present appeal involves an examination of the taxability of the interest component, earned on compensation or enhanced compensation, ordered under.....
Tags : Tax, Levy, Interest
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When the assessee has not taken the benefit of the CENVAT credit, there is no liability to pay interest(23.04.2024)
The Appellants are manufacturers of cotton yarn which they are clearing on payment of duty under Notification No. 29/2004-CE and also availing full ex.....
Tags : Interest, Penalty, Legality
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Pension and gratuity are valuable rights and any culpable delay in disbursement thereof must be visited with penalty of payment of interest(15.11.2016)
Respondent was Assistant Store Superintendent with Irrigation Department of State of Uttar Pradesh. He stood retired on 30th June, 2009 on attaining a.....
Tags : Interest
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Interest income earned by cooperative society on deposits made out of surplus funds with cooperative banks as well as schedule bank qualifies for deduction(03.06.2024)
In facts of the case, the Appellant is a Cooperative Society registered under the Maharashtra Co-operative Societies Act, 1960. It is engaged in the b.....
Tags : Assessment, Interest, Deduction
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Interest shall be computed from the date when the refund was due to be paid to the person till the date of payment of refund(27.05.2024)
The Petitioner has preferred present petition for issuance a writ of certiorari thereby quashing impugned order, where in interest has been provided f.....
Tags : Interest, Computation, Legality
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Right to residence is not an indefeasible right of residence in shared household especially when the daughter-in-law is pitted against aged father-in-law and mother-in-law(17.05.2021)
In instant case, Parties to the present petition are related to each other in a way that Petitioner is the daughter-in-law and Respondents are her par.....
Tags : Right, Shared household, Beneficial interest
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Unless otherwise agreed by parties, Arbitral Tribunal can award interest at reasonable rate for a period commencing from the date when the cause of action arises till the date of the award(22.04.2021)
The Appellants were awarded a contract by the State of Kerala for upgradation of a State Highway for two stretches, from Muvattupuzha-Thodupuzha and M.....
Tags : Interest, Delayed payment, Entitlement
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Assessing Officer can impose penalty for default in making payment of tax, but same shall not exceed amount of tax in arrears(01.07.2017)
In the present case, Income Tax Return of Respondent-Assessee was processed under Section 143(1) of Income Tax Act, 1961, demand was raised and penalt.....
Tags : Arrears, Tax, Interest, Inclusion
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When there has been devolution of interest during pendency of suit, suit may, by leave of Court, be continued by or against persons upon whom such interest has devolved(10.07.2017)
By present application, challenge is made to order passed by District Judge, whereby appellate Court rejected application of Petitioner under Order XX.....
Tags : Interest, Devolution, Substitution, Entitlement
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Assessee need not to demonstrate commercial expediency in each year concerning a loan transaction(10.07.2023)
In facts of present case, the Assessing Officer (AO) concluded that, the disallowance was mandated in view of the fact that the Respondent/Assessee ha.....
Tags : Assessment, Interest expenses, Disallowance
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Contract must explicitly bar pendente lite interest to prevent arbitral award(16.03.2016)
An Arbitrator cannot award interest pendente lite if the same is barred expressly by contract. The Supreme Court distinguished an explicit contractual.....
Tags : Arbitration, interest, award, pendente lite
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Complainant is entitled to delay period interest under Section 18 of the Real Estate (Regulation and Development) Act, 2016(17.07.2023)
Present complaint is filed under Section 18 of the Real Estate (Regulation and Development) Act, 2016 before this Authority against the project SHRIRA.....
Tags : Interest, Delay, Entitlement
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MACT award not classifiable as âincomeâ(02.06.2016)
Compensation awarded by the Motor Accident Claims Tribunal, and interest accruing therefrom, are not subject to TDS (tax-deducted-at-source) and the s.....
Tags : mact, compensation, interest, tds, welfare
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No power under the Employees' State Insurance Act to statutory interest(29.10.2021)
In facts of present case, by a notice dated 6th April 1990, a demand was made by the Insurance Corporation in the sum of Rs.8,01,510 by way of contrib.....
Tags : Interest, Waiver, Entitlement
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When affairs of Company are being conducted in manner prejudicial to public interest, Tribunal is empowered to replace the existing Management(13.03.2020)
The Union of India moved a Petition under Sections 401/397/398 read with Section 408 of the Companies Act, 1956 (now Section 241(2) read with Section .....
Tags : Report, Public interest, Management, Replacement
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