Computation of interest u/s 234B - there is definite increase of ...

Case Laws Income Tax

March 20, 2018

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 refunded with interest - provisions of section 234B(2) was applied wrongly by the tribunal - the differential tax on reassessment had to be levied interest at the rate provided u/s 234B(3) - HC

View Source

← Previous Next →

Computation of interest u/s 234B - there is definite increase of ...

Case Laws Income Tax

March 20, 2018

You may also like:

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...

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...

Interest payable u/s 234B for the purpose of adjustment against the tax paid u/s 140A has to be computed with respect to assessed tax determined on the basis of total...

Computation of interest u/s 234B - assessed tax versus tax on returned income - interest for default in payment of advance tax u/s 234B of the Act in the case of regular...

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...

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...

Non-granting interest u/s 244A on excess self-assessment tax from January 2017 to October 2017 was denied, citing the refund was less than 10% of the tax determined in...

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...

Interest u/s 234B – Tax liability due to retrospective amendment - failure to pay advance tax - no interest liability under section 234B - HC

Interest liability u/s 234B and C on retrospective amendment under section 115 JB - Since the clause (i) was not on statute book during the relevant assessment year, the...

Interest u/s 234B - the liability would end on the date of determination of total income u/s 143(1) or, in case of regular assessment, the date of such assessment. In...

Charge of interest u/s 234B and 234C – “assessed tax“ is defined to mean the tax assessed on regular assessment which means the tax determined on the application of...

Levy of interest u/s 234A and 234B - defaults in furnishing return of income - The Case and situation pertains to situations where the original assessment is set aside...

Interest liability - Provisional assessment - interest is not payable if assessee pays the duty before finalisation - AT

Interest u/s 234B - When the assessment was made for the first time u/s 147 read with Section 143(3), the said assessment is a regular assessment attracting Section...

Quick Updates: