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2017 (12) TMI 1524 - AT - Income TaxEnhancement of interest under section 234A of the Act - Held that: - On perusal of the order dated 19/04/15 it is observed that due date of filing the original return was 30/11/13 whereas assessee filed the return on 29/11/14 thereby causing a delay of 12 months - By applying Section 234A, assessee is liable to pay interest under section 234A for the period commencing on the date immediately following the due date upto the date of furnishing the return (in the present case return is furnished after the due date) at one percent per month - admittedly self-assessment tax has been paid with a delay of one month, after the due date of filing of return - the interest computed by Ld. AO under section 234A is confirmed. Levy of interest under section 234B - Held that: - section 234B is applicable where assessee fail to deposit advance tax or the advance tax deposited is less than 90% of the taxable income - In the present case Assessee admittedly has not deposited advance tax for any of the three quarters - assessee is liable to interest under section 234B at 1% for every month starting from 1st day of financial year relevant to the assessment year from 01/04/13 to 29/11/14. Appeal dismissed - decided against assessee.
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