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2014 (5) TMI 854 - HC - Income TaxLevy of interest u/s 234A, 234B and 234C of the Act – Held that:- Following C.I.T. Vs DIVINE HOLDINGS PVT. LTD [2012 (4) TMI 100 - BOMBAY HIGH COURT] - the tribunal has erred in taking a view that the assessee being a notified person under the Special Court (Trial of Offences relating to Transactions in Securities) Act, 1992 is not liable to pay interest u/s 234A, 234B and 234C of the Act - interest is chargeable and merely because the assets and properties are attached does not mean that the liability to pay interest will not arise – the order of the Tribunal is set aside - Decided in favour of Revenue.
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