Tribunal held that as the assessee had earned capital gains on March 30, 2012, that is, before the close of the year, interest was chargeable under section 234B, which arose only at the close of the financial year. The Assessing Officer was directed to recompute the interest chargeable under sections 234C and 234B. (AY.2012-13)
Shipra Estate Ltd. v. ACIT (2021) 86 ITR 245 (Delhi)(Trib.)
S. 234B : Interest-Advance tax-Book profits-Capital gains before close of financial year-Directed to recompute interest [S.115JB, 234C]