Interest u/s 234B cannot be levied unless AO specifies in Assessment Order

Issue is squarely covered by the decision of the Apex Court in the case of Commissioner of Income Tax and others v. Ranchi Club Ltd., reported in (2001) 247 ITR 209. In the said decision, the Apex Court held that in absence of any specific direction giving reference to the section charging interest in the assessment order, no interest can be levied through a notice of demand. IN THE HIGH COURT OF GUJARAT AT AHMEDABAD TAX APPEAL No. 84 of 2000 ASSTT. C.I.T. Versus S.K. PATEL  FAMILY TRUST CORAM: HONORABLE MR.JUSTICE AKIL KURESHI and HONORABLE MS.JUSTICE HARSHA DEVANI Date : 19/06/2012 ...