TMI Blog2013 (1) TMI 453X X X X Extracts X X X X X X X X Extracts X X X X ..... trospective effect. The proviso was brought into operation w.e.f. 1.4.2012 whereas the AY involved are 2005-06 and 2006-07, therefore not in agreement with the DR because the said proviso is not retrospective in nature. The language used in section 209(1) is regarding payment of advance tax in the financial year, therefore, the proviso is not attracted for the impugned assessment year. As deci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... p Singh, ld. Senior DR whereas nobody is present for the assessee. Ld. Senior DR defended the assessment order levying the interest u/s 234B of the Act and invited our attention to section 209 for computation of advance tax. Plea was also raised that section 202 of the Act was also not considered by Hon'ble High Court while coming to a particular conclusion. Plea was also raised regarding amendmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B(1)(e) of the Rules by considering the transactional net margin method. Interest u/s 234A, 234B and 234C was also held to be leviable by the Assessing Officer. On appeal, the ld. CIT (A) by following the decisions as contained at page 38 of the impugned order held that the interest u/s 234B is not leviable. Aggrieved Revenue is in appeal before the Tribunal. So far as the contention of the ld. Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with retrospective effect. The proviso was brought into operation w.e.f. 1.4.2012 whereas the Assessment Years involved are 2005-06 and 2006-07, therefore, we are not in agreement with this assertion of the ld. Senior DR because the said proviso is not retrospective in nature. Even otherwise, the language used in section 209(1) is regarding payment of advance tax in the financial year, therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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