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of <h1>High Court upholds Tax Act amendment on interest liability, benefitting assessees.</h1> <h3>The Commissioner of Income Tax II, Versus Patni Computer Systems Limited.</h3> The High Court of Bombay dismissed the appeal regarding the computation of interest liability under Section 234B of the Income Tax Act, 1961. The ... - The High Court of Bombay dismissed the appeal regarding the computation of interest liability under Section 234B of the Income Tax Act, 1961. The Tribunal held that the tax credit for taxes paid abroad should be considered, as per the amended law, which applies retrospectively to remove hardship for assessees. The appeal was dismissed with no costs.
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