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2016 (3) TMI 538 - AT - Income TaxCharging of Interest u/s. 234C - default to pay advance tax under section 208 - Held that:- Respectfully, following the decision of Shakti Insulated Wires (P) Ltd. for assessment year 2005-06 (2014 (2) TMI 1246 - ITAT MUMBAI), which ruling, in our view, is squarely applicable to the case on hand, confirm the impugned order of the Ld. CIT(A) in holding that the assessee in the case on hand cannot be charged interest under section 234C of the Act as it had no liability to pay advance tax under section 208 of the Act on any of the due dates for payment of advance tax in the period under consideration and became liable to pay tax by virtue of a retrospective amendment made after the close of the relevant financial year. In these circumstances, the assessee could not be branded as a defaulter and be charged interest under section 234C of the Act - Decided in favour of assessee
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