PMLA anticipatory bail requires satisfaction of twin conditions, while predicate-offence protection does not extend to independent money-laundering pr...
School-affiliation charges remain taxable where not directly connected with examinations, while extended limitation requires proof of deliberate tax e...
ITAT held that interest under section 234B is payable only up to the date of payment of self-assessment tax under section 140A and thereafter only to the extent of any residual shortfall arising from assessment; where the return was processed under section 143(1) without any variation in tax liability, no further shortfall arose. Consequently, CPC erred in computing interest under section 234B beyond the date of self-assessment tax payment (03.04.2023). The excess interest so charged is a mistake apparent on the record and not sustainable; the assessee's appeal is allowed and the impugned interest liability is quashed to the extent charged after the payment date.
ITAT held that interest under section 234B is payable only up to the date of payment of self-assessment tax under section 140A and thereafter only to the extent of any residual shortfall arising from assessment; where the return was processed under section 143(1) without any variation in tax liability, no further shortfall arose. Consequently, CPC erred in computing interest under section 234B beyond the date of self-assessment tax payment (03.04.2023). The excess interest so charged is a mistake apparent on the record and not sustainable; the assessee's appeal is allowed and the impugned interest liability is quashed to the extent charged after the payment date.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
