Interest u/s 234A/ 234B cannot be levied in absence of any mention in Assessment Order

Income Tax Officer Vs. M/s. Heritage Project (ITAT Amritsar) The conclusion of Hon’ble Supreme Court in the case of CIT Vs. Ranchi Club Ltd. is that in the absence of any specific mention of the Assessing Officer in the assessment order for charging of interest u/s 234A and 234B, no interest would be recovered from the assessee merely by way of a demand notice. We further find that Hon’ble Delhi High Court in the case of CIT Vs. Kishan Lal (HUF) has again followed the order of Hon’ble Supreme Court and has held that in the absence of any direction in the assessment order for ...