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Section 234B

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Section 234A, 234B, 234C of Income Tax Act, 1961

Income Tax : The most commonly applied interest provisions are found under Sections 234A, 234B, 234C. Understanding these sections is crucial f...

July 2, 2025 3 Views 0 comment Print

Don’t Wait For The ITR Deadline: Pay Your Taxes Early

Income Tax : Deadline for filing Income Tax Returns is fast approaching. Although due date for non-audit taxpayers has been extended to Septemb...

June 22, 2025 4494 Views 0 comment Print

Who Is Liable To Pay Advance Tax And When It Is To Be Paid?

Income Tax : Understand advance tax liability and payment due dates in India. Learn who needs to pay, installment percentages, special provisio...

June 4, 2025 1344 Views 0 comment Print

Advance Tax: Due Dates & Consequences of Non-Payment

Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...

March 28, 2025 2313 Views 0 comment Print

How to calculate and pay advance tax for corporates

Income Tax : Learn steps for calculating and paying advance tax for corporates, due dates for instalments and penalties for delayed payments u...

December 26, 2024 6879 Views 0 comment Print


Latest News


Request to CBDT to permit delayed filing of Form 10IC

Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of  time limit by condoning delay Issuance of Order under Section ...

February 4, 2022 9855 Views 1 comment Print

AOTAA files PIL before Orissa HC on the issue of late fee, interest & penalty under Income Tax

Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...

January 13, 2022 4611 Views 1 comment Print

Belated Release of ITRs and burden of Interest U/s. 234 B

Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...

June 4, 2015 2901 Views 0 comment Print


Latest Judiciary


Addition u/s. 68 deleted as source of funds proved: ITAT Delhi

Income Tax : ITAT Delhi held that addition under section 68 of the Income Tax Act cannot be sustained as assessee has proved the source of fund...

July 3, 2025 438 Views 0 comment Print

Set off of short term capital loss [STT paid] is allowed against STCG [STT not paid]

Income Tax : ITAT Mumbai held that short-term capital loss [STCL] on which STT is paid [which is taxable at 15% u/s. 111A of the Income Tax Act...

July 2, 2025 1527 Views 0 comment Print

Addition towards bogus sales commission upheld due to absence of plausible explanation

Income Tax : ITAT Raipur held that addition of commission @1% on bogus sales transacted upheld as no plausible explanation provided by the asse...

July 2, 2025 255 Views 0 comment Print

Benefit of section 50B granted as conditions of slump sale satisfied: ITAT Mumbai

Income Tax : ITAT Mumbai held that all the conditions of slump sale as provided under section 2(42C) of the Income Tax Act read with section 50...

June 30, 2025 198 Views 0 comment Print

ITAT Remands Ex-Parte Order on Unexplained Demonetization Cash Deposit for Fresh Hearing

Income Tax : ITAT Kolkata sets aside ex-parte CIT(A) order on unexplained demonetization cash deposit against Akanksha Enterprises, allowing a ...

June 27, 2025 117 Views 0 comment Print


Latest Posts in Section 234B

Addition u/s. 68 deleted as source of funds proved: ITAT Delhi

July 3, 2025 438 Views 0 comment Print

ITAT Delhi held that addition under section 68 of the Income Tax Act cannot be sustained as assessee has proved the source of funds for purchase of land made in earlier assessment year. Accordingly, appeal allowed.

Set off of short term capital loss [STT paid] is allowed against STCG [STT not paid]

July 2, 2025 1527 Views 0 comment Print

ITAT Mumbai held that short-term capital loss [STCL] on which STT is paid [which is taxable at 15% u/s. 111A of the Income Tax Act] can be set off against short-term capital gains [STCG] on which STT is not paid [which is taxable at 30% u/s. 115AD].

Section 234A, 234B, 234C of Income Tax Act, 1961

July 2, 2025 3 Views 0 comment Print

The most commonly applied interest provisions are found under Sections 234A, 234B, 234C. Understanding these sections is crucial for taxpayers to avoid unintended liabilities and to ensure proper tax compliance.

Addition towards bogus sales commission upheld due to absence of plausible explanation

July 2, 2025 255 Views 0 comment Print

ITAT Raipur held that addition of commission @1% on bogus sales transacted upheld as no plausible explanation provided by the assessee. Accordingly, appeal dismissed and order of CIT(A) upheld.

Benefit of section 50B granted as conditions of slump sale satisfied: ITAT Mumbai

June 30, 2025 198 Views 0 comment Print

ITAT Mumbai held that all the conditions of slump sale as provided under section 2(42C) of the Income Tax Act read with section 50B of the Act is satisfied. Accordingly, benefit of section 50B granted and AO directed to compute the business income accordingly.

ITAT Remands Ex-Parte Order on Unexplained Demonetization Cash Deposit for Fresh Hearing

June 27, 2025 117 Views 0 comment Print

ITAT Kolkata sets aside ex-parte CIT(A) order on unexplained demonetization cash deposit against Akanksha Enterprises, allowing a fresh hearing based on natural justice.

Royalty income, uncertain in collection, cannot be taxed merely due to TDS deduction

June 27, 2025 261 Views 0 comment Print

ITAT Delhi rules that royalty income, uncertain in collection, cannot be taxed merely due to TDS deduction. Real income theory and AS-9 prevail.

Senior Citizen with Exempt Partnership Income: ITAT grants relief from Interest levy

June 25, 2025 2793 Views 0 comment Print

Mumbai ITAT grants relief to senior citizen Neeta Rohit Patel, quashing interest under Sections 234B & 234C on exempt partnership income. Landmark ruling clarifies advance tax exemption.

Don’t Wait For The ITR Deadline: Pay Your Taxes Early

June 22, 2025 4494 Views 0 comment Print

Deadline for filing Income Tax Returns is fast approaching. Although due date for non-audit taxpayers has been extended to September 15, 2025, it is advisable not to wait, at least for tax payment, until due date of ITR filing.

Aggregate annual receipts below specified limit hence exemption u/s. 10(23C)(iiiad) cannot be denied for belated return

June 18, 2025 504 Views 0 comment Print

ITAT Jaipur held that denial of exemption u/s. 10(23C)(iiiad) of the Income Tax Act for non-filing of return before due date prescribed u/s. 139(1) not justified since aggregate annual receipts doesn’t exceed specified limit. Accordingly, exemption granted and appeal allowed.

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