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Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Levy of Interest u/s 234B, 234C - As the Assessment Order does ...

Case Laws     Income Tax

September 6, 2012

Levy of Interest u/s 234B, 234C - As the Assessment Order does not give effect to the amount seized and there is no Demand Notice claiming interest on advance tax, interest cannot be levied - SC

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  10. 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...

  11. 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...

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  13. Interest u/ss 234A, 234B, and 234C cannot be charged post Corporate Insolvency Resolution Process when the amount has been frozen by moratorium under IBC and not part of...

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