Section 234B Interest Cannot Extend Beyond Self-assessment Tax Payment

Vimal Sureshbhai Mishra Vs Central Processing Unit (ITAT Ahmedabad) Brief Facts The assessee filed an updated return of income under section 139(8A) on 03.04.2023, declaring total income of ₹20,47,420. On the same date, he discharged his entire self-assessment tax liability under section 140A. CPC, Bengaluru processed the return under section 143(1) on 29.10.2024. While accepting the returned income, CPC: Charged interest under sections 234A & 234B, and Raised a net demand of ₹1,04,840. The assessee’s grievance was that interest under section 234B of ₹1,36,834 was wrongly comp...