Section 234B - Page 12

Interest under section 234A, B and C are mandatory in nature and no discretion is vested in the Assessing Officer

Dr. R. P. Patel Vs CIT (Kerala High Court)

Question Nos. 10 and 11 pertain to assessee's challenge against levy of interest under section 234B of the Act for non-payment of advance tax. The assessee has relied on the decision of the Supreme Court in CIT V. RANCHI CLUB LTD., 247LT.R, 209 and decision of the Delhi High Court in CIT v. INCHCAPE INDIA (P) LTD., ...

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Ranchi Club Ltd. is still good law in respect of levy of Interest U/s. 234A /234B/ 234C

The Patna High Court in the case of Ranchi Club Ltd. Vs. C.I.T. [1996] 217 ITR 72 (Pat.), rendered a very significant judgement that interest under Section 234A and 234B is to be levied on the income declared in the return of income and not on the assessed income. This judgement was passed on 13.11.1995. Thereafter, on 2.7.1996, another v...

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