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2015 (8) TMI 1253 - HC - Income TaxAssessability of the amounts under Section 44BB - Held that:- In the light of the judgment of the Hon’ble Apex Court in Oil & Natural Gas Corporation Limited vs. Commissioner of Income Tax & another (2015 (7) TMI 91 - SUPREME COURT) the substantial questions of law relating to the assessability of the amounts under Section 44BB have to be answered against the appellant / revenue. Liability to pay interest under Section 234B - Held that:- In relation to the substantial questions of law relating to Section 234B, we remit the matter back to the Assessing Officer to consider whether there is any liability under Section 234B on the basis that the amounts in question would fall to be assessed under Section 44BB of the Act.
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