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2018 (2) TMI 1871 - ITAT RANCHICharging of interest u/s. 234B - whether interest to be levied on assessed income or only on the income declared in the return of income? - HELD THAT:- As decided in AJAY PRAKASH VERMA VERSUS INCOME TAX OFFICER, [2013 (1) TMI 140 - JHARKHAND HIGH COURT] AO was not justified in charging the interest on assessed income and the CIT-A was correct in deleting the same and the order of CIT-A is upheld. Therefore, the solitary ground raised by the revenue in this regard is dismissed. Thus interest cannot be levied on assessed income and it can be levied only on the income declared in the return of income. - decided against revenue
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