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2012 (4) TMI 370 - AT - Income TaxLevy of interest under Sections 234A, 234B and 234C – assessee contested that as the payee being a non-resident tax ought to have been deducted u/s.195 of the IT Act - AO charged interest after considering the actual amount of tax deducted at source – Held that:- the interest under section 234A is not levied for any default of payment of any advance tax, but is levied for default in furnishing return of income within the specified time - the interest under section 234A is to be computed by excluding the amount of tax actually deducted from the assessee during the relevant previous year and interest under section 234B and 234C are to be charged by excluding the tax, which was deductible from the assessee as per provisions of Chapter XVII of the Act - set aside the Order and direct the AO to recompute the interest - Appeal of assessee partly allowed.
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