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2009 (8) TMI 23 - HC - Income TaxInterest u/s 234B - ITAT has upheld the order passed by the Commissioner of Income Tax (Appeals) observing that there is no infirmity in the order of the CITA deleting the interest charged under Section 234B of the Act - In the return, exemption under Section 10(10CC) of the Act was claimed. The Assessing Officer (for short A.O.) noticed that no exemption under the said provision of the Act was available to the assessees and a notice under Section under Section 148 of the Act was issued - A.O. did not allow the exemption on the perquisite claimed by them and after applying principle of multiple stage grossing up’, the income was assessed as mentioned the Assessment Order – order of ITAT maintained – revenue appeal dismissed.
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