Late fee u/s 234E for processing for period prior to 1st June 2015 unsustainable

Kerala Gramin Bank Vs ITO (ITAT Cochin)

ITAT Cochin held that levy of late fee under section 234E for processing for period prior to 1st June 2015 is unsustainable and bad-in-law.

Facts- The issue in these appeals is the applicability or otherwise of the levy of interest under section 234E of the Income Tax Act (‘the Act’ hereinafter) in respect of different Quarters of the financial year 2013-14 (and Qtr.1 of fy 2014-15), in view of the amendment to section 200A(1) of

Please become a Premium member. If you are already a Premium member, login here to access the full content.