Charging interest u/s 234B - MAT credit - Here it is a clear-cut ...

Interest Charge Error Under Income Tax Act's Section 234B Upheld Despite MAT Credit Claim by Taxpayer.

July 7, 2020

Case Laws Income Tax AT

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 liability of the assessee at that particular time would have correctly claimed MAT credit available to the assessee and charged interest u/s 234B of the income tax act. - Interest liability sustained.

View Source

← Previous Next →

Charging interest u/s 234B - MAT credit - Here it is a clear-cut ...

Interest Charge Error Under Income Tax Act's Section 234B Upheld Despite MAT Credit Claim by Taxpayer.

July 7, 2020

Case Laws Income Tax AT

You may also like:

ITAT affirmed CIT(A)'s directive to grant TDS credit per Form 26AS despite taxpayer's initial failure to claim full credit in tax return due to software technical issues....

The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

HC held that a registered assessee who committed a technical error in filing GST TRAN-1 cannot be denied transitional tax credit. The court emphasized that procedural...

The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

The AT upheld SEBI's discretion to levy interest on outstanding registration fees as per Regulation 5 of Schedule-III of Stockbrokers Regulations, 2002, which...

ITAT held that mere presence of PE in India does not automatically disqualify special tax treatment under Article 11(2) of India-Japan DTAA for interest income from...

The issue pertains to the disallowance of excess Minimum Alternate Tax (MAT) credit u/s 115JAA and whether the amount of surcharge and education cess should be reduced...

HC quashed order relating to Input Tax Credit (ITC) claims that were time-barred under Section 16(4) of CGST Act but fell within limitation under Section 16(5)....

Procedural lapses by third parties should not deprive taxpayers of TDS credit when they have acted in good faith and declared income. Section 205 bars direct tax...

MAT credit on the difference between gross tax liability as per normal provisions and MAT provisions as claimed by assessee in ITR instead of base tax as per normal...

HC declined to address allocation of undisclosed Shilpgram Scheme income between parties as factual matter, upholding Tribunal's 70-30 split. On interest charges under s....

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

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

ITAT allowed taxpayer's appeal regarding Tax Collected at Source (TCS) credit for minor child's income clubbed with parent's income. While statutory amendment permitting...

Interest u/s. 244A - interest on unpaid interest - refund awarded in the rectification order u/s. 154 - The appellant contested the decision of the Commissioner of...

Quick Updates: