| Question And Answer | |
|---|---|
| Subject: | Changing of Interest U/sec 234 A and 234 B |
| Category: | Income-Tax |
| Querist: | Deepali |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | 234A, 234B, advance tax, Interest, Interests |
| Date: | February 10, 2022 |
What is legal position whether interest U/sec. 234 A and 234 B is Tobe charged on income returned by the assessee or income assessed by the AO. Whether decision of Smt Tejkumari v CIT 114 Taxman 404 is still binding ? Pl guide
Section 234A & section 234B of the Income-tax Act is applicable to the returned income as determined under section 143(1) of the Act. Therefore the decision of the Hon’ble Patna High Court – Full Bench in the case of Smt Tejkumari v CIT 114 Taxman 404 is still good in law.
Disclaimer: This article is only for general information and is not intended to provide legal advice. Readers desiring legal advice should consult with an experienced professional to understand the current law and how it may apply to the facts of their case. Neither the author nor itatonline.org and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any inaccurate or incomplete information in this article nor for any actions taken in reliance thereon. No part of this document should be distributed or copied (except for personal, non-commercial use) without express written permission of itatonline.org