TMI Blog2014 (5) TMI 854X X X X Extracts X X X X X X X X Extracts X X X X ..... o Transactions in Securities) Act, 1992 is not liable to pay interest u/s 234A, 234B and 234C of the Act - interest is chargeable and merely because the assets and properties are attached does not mean that the liability to pay interest will not arise – the order of the Tribunal is set aside - Decided in favour of Revenue. - Income Tax Appeal No. 216 of 2012 - - - Dated:- 9-5-2014 - S. C. Dharm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RIENT TRAVELS PVT.LTD vs.D.C.I.T. rendered in Income Tax Appeal No.6888/Mumbai/2008 dated 30.12.2009. The revenue being aggrieved by this finding of the Tribunal has urged that the following substantial questions of law arise for determination as formulated in paragraph 4 of the Appeal : (i) Whether on the facts and in the circumstances of the case and in law the Tribunal has power to absolve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r of the revenue in view of the judgment of this Court in case of C.I.T. Vs DIVINE HOLDINGS PVT. LTD in Income Tax Appeal No.3334 of 2010 decided on 7.3.3012. We have also been apprised of an order dated 1.4.2014 passed by this bench in Income Tax Appeal No.3365 of 2010 with Income Tax Appeal No.3371 of 2010 (COMMISSIONER OF INCOME TAX CENTRAL II vs. CASKET HOLDINGS PVT. LTD) in which, following t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that interest is chargeable and merely because the assets and properties are attached does not mean that the liability to pay interest will not arise. 4. In view of the aforesaid discussion, we are of the opinion that the issue as raised in the present appeal is covered by the judgment in the case of DIVINE HOLDINGS PVT.LTD (supra) as followed by us in our judgment in the case of COMMISSIONER ..... X X X X Extracts X X X X X X X X Extracts X X X X
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