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Section 234A

Latest Articles


Last date to file Income Tax Return is 31st December 2023

Income Tax : Discover importance of filing a late income tax return, consequences of missing deadline, and a step-by-step guide for online fili...

December 29, 2023 2430 Views 1 comment Print

Penalties and Prosecutions Under Income tax Act, 1961

Income Tax : Learn about the penalties and prosecutions under the Income Tax Act of 1961 for various defaults and offenses. Find out the fines ...

July 25, 2023 472419 Views 4 comments Print

Interest Under Section 234A, 234B & 234C of Income Tax Act, 1961

Income Tax : Understanding Section 234A, 234B & 234C of the Income Tax Act, 1961. Learn about advance tax payments and the importance of timely...

August 23, 2022 4194 Views 1 comment Print

Prosecutions and Punishment under Income Tax Act, 1961

Income Tax : Apart from penalty for various defaults, the Income-tax Act also contains provisions for launching prosecution proceedings against...

June 11, 2022 46281 Views 7 comments Print

Income Tax Offences liable to prosecution

Income Tax : Apart from levy of penalty for various defaults by the taxpayer, the Income-tax Law also contains provisions for launching prosecu...

June 8, 2022 56741 Views 4 comments Print


Latest News


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 4416 Views 1 comment Print

Representation for relaxation from levy of Section 234A interest

Income Tax : Representation for relaxation from levy of interest u/s. 234A on payment of self-assessment tax for A.Y. 2020-21 within extended d...

September 8, 2020 15747 Views 0 comment Print

All you need to know about TDS Rules before filling your IT returns!

Income Tax : The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advanc...

July 30, 2020 1464 Views 0 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 2757 Views 0 comment Print


Latest Judiciary


ITAT allowed additional depreciation claim of Rs. 49.5 cr notwithstanding Authorities failed to appreciate Amended Provision of S. 36(1) (iia)

Income Tax : Tribunal allowed a claim of Rs. 49.5 crore in the interest of Principle of Natural Justice after finding that the respective autho...

April 12, 2024 276 Views 0 comment Print

Old age & illiteracy are important factors: HC waives Section 234A Interest

Income Tax : Punjab and Haryana High Court grants waiver of Section 234A interest in tax case, considering old age and illiteracy of the taxpay...

April 9, 2024 1644 Views 0 comment Print

Vague order in violation of section 154(3) provisions is unsustainable

Income Tax : Bangalore ITAT remits the case back to the AO for fresh consideration, citing enhancement made to taxpayer's income without follow...

April 5, 2024 240 Views 0 comment Print

Allowability of Interest Cost of amount utilized for Investment in Shares

Income Tax : JPR Investments vs ACIT (ITAT Mumbai): Interest cost can't be claimed as business expenditure for shares investment, directs recom...

March 30, 2024 345 Views 0 comment Print

ITAT Quashes Assessment Order for Lack of Property Valuation Report

Income Tax : Read the detailed analysis of the ITAT Hyderabad order quashing the assessment for A.Y. 2009-10 due to absence of property valuati...

March 28, 2024 579 Views 0 comment Print


Latest Notifications


Income Tax Return, Tax Audit due date & Other dates extended

Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...

May 20, 2021 161850 Views 24 comments Print

No Section 234A Interest on SA tax paid before due date of filing ROI

Income Tax : CIRCULAR NO. 2/2015 The Board has decided that no interest under section 234A of the Act is chargeable on the amount of self-asses...

February 10, 2015 20396 Views 0 comment Print


Latest Posts in Section 234A

ITAT allowed additional depreciation claim of Rs. 49.5 cr notwithstanding Authorities failed to appreciate Amended Provision of S. 36(1) (iia)

April 12, 2024 276 Views 0 comment Print

Tribunal allowed a claim of Rs. 49.5 crore in the interest of Principle of Natural Justice after finding that the respective authorities failed to appreciate the amended provision of Section 36(1)(iia) of the Income Tax Act, 1961, resulting in the denial of an additional depreciation claim.

Old age & illiteracy are important factors: HC waives Section 234A Interest

April 9, 2024 1644 Views 0 comment Print

Punjab and Haryana High Court grants waiver of Section 234A interest in tax case, considering old age and illiteracy of the taxpayer. Baso Devi and others Vs Central Board of Direct Taxes.

Vague order in violation of section 154(3) provisions is unsustainable

April 5, 2024 240 Views 0 comment Print

Bangalore ITAT remits the case back to the AO for fresh consideration, citing enhancement made to taxpayer’s income without following procedures under Sec 154.

Allowability of Interest Cost of amount utilized for Investment in Shares

March 30, 2024 345 Views 0 comment Print

JPR Investments vs ACIT (ITAT Mumbai): Interest cost can’t be claimed as business expenditure for shares investment, directs recompute of STCG.

ITAT Quashes Assessment Order for Lack of Property Valuation Report

March 28, 2024 579 Views 0 comment Print

Read the detailed analysis of the ITAT Hyderabad order quashing the assessment for A.Y. 2009-10 due to absence of property valuation report. Learn about the case of Khairunnisa Vs ITO.

Expense excluded from export turnover to be excluded from total turnover for deduction u/s 10A: ITAT Mumbai

March 26, 2024 153 Views 0 comment Print

ITAT Mumbai held that the expenses excluded from the export turnover have to be excluded from the total turnover as well while computing deduction u/s 10A of the Income Tax Act.

ITAT Allows Indexed Cost of Construction for Penthouse Regularized on Sale Date

March 24, 2024 591 Views 0 comment Print

Read the detailed analysis of ITAT Bangalore’s decision in Jayanti Vasishta vs ITO allowing indexed cost of construction for a penthouse regularized on the sale date.

Physical rendition of service in India required as virtual service PE not considered under India-Singapore DTAA: ITAT Delhi

March 19, 2024 147 Views 0 comment Print

ITAT Delhi held that there is no provision regarding establishment of virtual service PE under India-Singapore DTAA and hence physical rendition of service in India is required under India-Singapore DTAA as per present service PE.

No Section 80IC deduction if Audit was not completed on or before filing ITR

March 18, 2024 243 Views 0 comment Print

Securico Electronics vs. ACIT: ITAT Delhi disallows Rs.33,97,998 80IC deduction due to late Form 10CCB filing. Full text analysis & conclusion.

Addition u/s. 68 unsustainable as AO failed to conduct independent enquiry to verify genuineness of transaction: ITAT Kolkata

March 18, 2024 480 Views 0 comment Print

In Brightstar Vincom Pvt Ltd Vs ITO, Kolkata ITAT emphasizes independent inquiry by AO before adding under section 68 of IT Act.

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