Charging interest u/s. 234B(3) / (4) - The section 234B(4) ...

Interest Recalculation Required u/s 234B(3) After Income Reassessment u/s 147 Increases Assessed Income.

January 15, 2018

Case Laws Income Tax AT

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 reduced accordingly. In the instant case, since reassessment u/s 147 of the Act was completed and in the reassessment the assessed income being higher, the interest is to be calculated as per section 234B(3) of the Income-tax Act, instead of section 234B(4) of the Income-tax Act. - AT

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Charging interest u/s. 234B(3) / (4) - The section 234B(4) ...

Interest Recalculation Required u/s 234B(3) After Income Reassessment u/s 147 Increases Assessed Income.

January 15, 2018

Case Laws Income Tax AT

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