Section 10 in The Income Tax Act, 1961
10. Incomes not included in total income
unjustified delay in releasing the same, the petitioner served a demand notice on the respondent claiming interest @ 18% per annum on the delayed payments ... explanation, has been furnished for the delay and since the right to claim interest on such delayed payments, as already observed earlier, is a part
President of India promulgated an ordinance, namely,
the Interest on Delayed Payment to Small Scale Ancillary Industrial
Undertakings Ordinance, 1992. Subsequently, on 02.04.1993, the Interest ... Delayed Payment to Small Scale and Ancillary Industrial Undertakings Act,
1993 (in short the “Act”) was enacted and it was deemed to have come into
making payment, time linked payment plan was accepted by the complainant, she was required to make payment of 95% of the total sale consideration, within ... payment plan. It is not denied that possession of the plot was to be delivered within 30 months, plus 12 months, on payment of delayed
such regulation is necessary for the proper levy, payment or collection of the duty;] [Inserted by Act 21 of 1960, Section ... rate of interest to be recovered in case of delayed payment of duty under sub-section (3) of section 12] [Inserted by Rubber (Amendment
under Section 32(1) had repealed the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 which was in the field ... rival submissions, it must be noted that the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 came to be challenged
that the LPS, as a concept, is
compensatory in nature for delayed payment, if any. The Order dated
16.11.2017 passed by the MERC in Case ... rise in the number of consumers from different
categories, who delay payment of their dues.
47. Mr. Singh argued that the MERC determines tariff upon
books of account of the recipient of supply or the date of payment, whichever is earlier. (4) In case of supply of vouchers ... supply by way of interest, late fee or penalty for delayed payment of any consideration shall be the date on which the supplier receives such
date he makes full payment.
*(7A) The payment of installment(s) on due date is mandatory. In
case the payment of installment ... Authority from time to time shall be
chargeable on the delayed payment of installment(s) irrespective of the
fact whether the possession has been offered
Page 2281 payment is disallowed if such payment is made any time after the last date of payment of the about related liability. Trade ... allowed in the year of payment. The complete disallowance of such payments is too harsh a punishment for delayed payments. Therefore, we recommend that