With regard to levy of interest u\/s.234A and 234B of the Act, the Tribunal held that interest u\/s. 234A is chargeable from the date of expiry of the Notice period given u\/s. 153A of the Act to the date of completing the assessment u\/s. 153A r.w.s. 143(3) of the Act u\/s. 139 of the Act. It further held that the interest u\/s. 234B is to be levied only on the additional tax levied on the enhanced income determined u\/s. 153A, r.w.s.143 of the Act and therefore the period of charge should be from the date of determination of income u\/s. 143(3) r.w.s. 153A to the determination of increased total income u\/s. 153A, r.w.s. 143(3) of the Act.\u00a0 (AY. 2013-14, 2014-15, 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 234A : Interest-Default in furnishing return of income-Search and seizure-the interest u\/s. 234B is to be levied only on the additional tax levied on the enhanced income determined u\/s. 153A, r.w.s.143 of the Act. [S. 143(3), 153A 234B] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-23142","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-61g","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=23142"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23142\/revisions"}],"predecessor-version":[{"id":23143,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/23142\/revisions\/23143"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=23142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=23142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=23142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}