Interest under Section 234B/234C is mandatory even if not specified in Assessment Order – SC

SUPREME COURT OF INDIA Karanvir Singh Gossal v/s. Commissioner of Income-tax CIVIL APPEAL NO. 1937 OF 2007 SEPTEMBER 6, 2012 ORDER Heard learned counsel on both sides. The civil appeal is allowed in terms of the signed order. No order as to costs. ORDER Heard learned counsel on both sides. The short point involved in the present case is whether levy of interest under Section 234A/234B of the Income Tax Act, 1961, [for short, ‘the Act’], is mandatory or not. At one point of time there was a doubt on the nature of interest payable by the assessee under Section 234A/2...