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Section 234C Interest on Returned Income, not on assessed income
Case Law Details
- Case Name
- EY Global Delivery Services India LLP Vs DCIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2020-21
- Courts
- All ITAT, ITAT Bangalore
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EY Global Delivery Services India LLP Vs DCIT (ITAT Bangalore)
Introduction: The case of EY Global Delivery Services India LLP vs DCIT (Income Tax Appellate Tribunal, Bangalore) has recently concluded with a ruling that has far-reaching implications for the levy of interest under section 234C of the Income Tax Act, 1961. The tribunal determined that the interest should be levied on returned income, not on the assessed income.
Analysis: The appeal from EY Global Delivery Services India LLP came in response to an order by the CIT(A), which had several issues, including the non-g...
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