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1. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

2. Mat credit – MAT credit should be given before charging interest under Sections 234B and 234C of the Act - HC

3. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

4. MAT Credit admissible in terms of Section 115JAA has to be set off against the tax payable (assessed tax) before calculating interest under Sections 234A, 234B and 234C

5. Set off of MAT credit - before or after setting off the Tax Deducted at Source and Advance Tax paid - credit under Section 115JAA should be given effect to before...

6. 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...

7. 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...

8. SC allows setoff of MAT credit with tax liability before calculating interest u/s 234A, 234B & 234C

9. Credit of the tax deducted at source (TDS) as TDS deducted by the employer - mis-match of tax deducted u/s 192 and the amount reflected in Form 26AS - The Court...

10. Mismatch of credit of TDS due to non-payment of TDS - benefit of tax deducted at source by the employer - Non deposit of TDS by the employer - Reference of Section 205...

11. Levying interest u/s 234C - Advance tax - Non-deduction of TDS by the payer - The interest income received by the assessee from IOCL was liable for deduction of tax at...

12. Assessment u/s 115JA - MAT - Levy of interest u/s 234B and 234C on retrospective levy of tax - Interest cannot be levied with retrospective effect - HC

13. 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...

14. Interest u/s 234B and 234C charged for default in payment of advance tax - assessee has submitted certificate from the Punjab National Bank that the cheques issued by...

15. MAT - Interest u/s 234B and 234C shall be payable on failure to pay advance tax in respect of tax payable under Section 115JA/115JB.