Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2023 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2023 (6) TMI 86 - ITAT BANGALOREForeign Tax Credit (FTC) - amount pertains to the taxes paid by the assessee in USA on the income offered to tax in India - HELD THAT:- CIT(A) had stated that prima facie the contentions of the assessee appears to be correct and directed the AO to verify the factual position of the assessee’s plea and to allow the claim of the assessee in accordance with law. The directions of the CIT(A) are clear and we see no reason to interfere with the order of the CIT(A) on the said issue. AO is directed to pass the appropriate orders in compliance with the directions of the CIT(A). Interest u/s 234C - AO’s action in levying interest on the assessed income instead of the returned income - HELD THAT:- As in the case of Aishwarya K. Rai Vs. DCIT[2009 (1) TMI 860 - ITAT, MUMBAI] had held that interest u/s 234C of the Act is to be levied on the returned income and not on the assessed income - We direct the AO to restrict the levy of interest under section 234C of the Act to the returned income instead of the assessed income.
|