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2016 (9) TMI 757 - HC - Income TaxTerminal date for charging interest under Section 234B - Held that:- Hon'ble Supreme Court in Brij Lal and Ors. Vs. Commissioner of Income Tax reported in (2010 (10) TMI 8 - SUPREME COURT ) held that the terminal date for charging interest will be the date on which the order under Section 245D (1) is passed i.e., the date on which the Settlement Commission entertains the application for settlement. By applying the said decision to the instant case, the appropriate date for charging interest would be 04.07.1997. Accordingly, the writ petition is allowed and the impugned order dated 03.02.2004 is set aside and it is ordered that the interest under Section 234A shall be charged upto the date of order under Section 245D (1) i.e., 04.07.1997 in stead of 28.10.2002 i.e, order under Section 245D (4) of the Act. The fourth respondent is directed to pass the consequential order pursuant to the above direction. No costs. Consequently, the connected miscellaneous petition is closed.
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