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2012 (5) TMI 320 - HC - Income TaxLevy of interest u/s 234B - held that:- Even if any provision of law is mandatory and provides for charging of tax or interest, the view taken in Ranchi Club Ltd. is that such charge by the assessing officer should be specific and clear and assessee must be made to know that the assessing officer has applied its mind and has ordered charging of interest. The mandatory nature of charging of interest and the actual charging of interest by application of mind and the mention of the proviso of law under which such interest is charged are two different things. - Decided in favor of assessee. Investment allowance under section 32A (1) - machinery installed in Hotel - Industrial Undertaking - held that:- Matter remanded back.
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