ITAT Directs Reconsideration of Section 234A, 234B & 234C Interest by CIT(A)

Apollo Pharmacies Limited Vs DCIT (ITAT Chennai) In a significant development, Apollo Pharmacies Limited took its case against the Deputy Commissioner of Income Tax (DCIT) to the Income Tax Appellate Tribunal (ITAT) in Chennai. The ITAT issued a directive to the Commissioner of Income Tax (Appeals) [CIT(A)] to revisit the issue of interest under Sections 234A, 234B, and 234C after considering the outcome of the petitioner’s appeal under Section 119(20)(b)/119(2)(c) of the Income Tax Act before the Chairman, CBDT. Background of the Case: The appeals, filed by Apollo Pharmacies Limited, c...