Interest charged u/s 234B(4) though no interest levied at the ...

Interest u/s 234B(4) Charged Correctly Post-Assessment; Mandatory When Imposing Consequential Effects per Section 143(3).

December 18, 2014

Case Laws Income Tax HC

Interest charged u/s 234B(4) though no interest levied at the time of framing of regular assessment u/s 143(3) - advance tax - it is a mandatory and while giving the consequential effect, AO has rightly charged the interest - HC

View Source

← Previous Next →

Interest charged u/s 234B(4) though no interest levied at the ...

Interest u/s 234B(4) Charged Correctly Post-Assessment; Mandatory When Imposing Consequential Effects per Section 143(3).

December 18, 2014

Case Laws Income Tax HC

You may also like:

Charging interest u/s. 234B(3) / (4) - The section 234B(4) states that if there is any increase or decrease in the income, correspondingly interest shall be increased or...

The case involves the computation of interest under section 234B for defaults in payment of advance tax. The Appellate Tribunal held that interest was correctly charged...

Rectification u/s 154 - Chargeability of interest u/s 234B and 234C - income returned u/s 115JB - The return was assessed under section 143(3) of the Act, and no...

Reduction or waiver of interest charged under section 234A/234B/234C - Scope and Power

Charging interest u/s 234B - MAT credit - Here it is a clear-cut case of computational error. Anybody, either the AO or the assessee, would have computed the tax...

Levy of interest u/s 234B - The mandatory nature of charging of interest and the actual charging of interest by application of mind and the mention of the proviso of law...

The Appellate Tribunal addressed the issue of levying interest u/s 234B in proceedings u/s 147/148. The AO had enhanced the interest from the date of the original...

Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

Computation of interest u/s 234B of the Income Tax Act. Section 234B(2)(i) provides for adjustment of interest computed u/s 234B(1) by reducing the amount of interest...

The appeal was made regarding the incorrect charge of interest u/s 234B of the Act in an order passed u/ss 254, 143(3), and 153A. The issue was whether the assessee...

Settlement Commission lacks power to rectify order u/s 245F(1) by levying interest u/ss 234A, 234B, and 234C prior to 01.06.2011. Rectification order on 21.03.2003 was...

Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...

The Income Tax Settlement Commission passed an order charging interest u/ss 234A, 234B, and 234C of the Income Tax Act. The petitioners challenged the order's...

Misdeclaration of imported polished marble slabs as unpolished slabs. Excess quantity found during physical verification. Customs duty demanded along with interest and...

Computation of interest u/s 234B - there is definite increase of tax liability from the regular assessment at the time of re-assessment - Tax paid u/s 140A was already...

Quick Updates: