charging of interest u/s 234B

Sec. 234B, Section 154

Madras H.C : Interest under section 234B could not be levied by the order under section 154 on the ground that the words used in section 209(1)(d) is ‘tax deductible at source’. Without appreciating that the said word is used in the context of payment of advance tax in the course of the ‘current year’ and the actual liability for levy of interest under section 234B has to be determined in the clear terms of Explanation 1 to section 234B

High Court Of Madras CIT vs. Reiter Inglostadt Spinners Imaechinanbau A.G. Assessment Years : 1991-92 And 1994-95 Section 234B, 154

Section 154

Karnataka H.C : No levy of interest can be made under sections 234B and 234C of the Act when computation of total income is made under section 115J of the Act can also be extended to computation of total income made under section 115JA of the Act which commences with a non obstante clause to compute the total income in accordance with the book profits, as contemplated in the said section and saves all other provisions of the Act under sub-section (4) of the said section which would include sections 234B and 234C

High Court Of Karnataka CIT vs. Sankala Polymers (P.) Ltd. Assessment Year : 2001-02 Section : 154 N.K. Patil And

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