Case Law Details
Brief of the Case- In the case of Bhagat Construction Co Private Limited vs CIT Hon;ble Supreme Court has held that Interest u/s 234B of Income Tax Act, 1961 is automatic even if assessment order does not contain any direction for payment subject to computation of same in Form I.T.N.S 150.
Brief Facts of the Case and Question of Law
Brief Facts
a. The assessment order of the Asst. Commissioner of Income-tax dated 29.03.1995 did not contain any direction for the payment of interest u/s 234B.
b. The order merely stated that interest is payable u/s 234B of the Income-tax Act without more. However, the tax and interest was determined in the Form I.T.N.S 150.
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