https://www.taxtmi.com/caselaws?id=66125 The Tribunal upheld the Revenue's appeal, reinstating the interest levied under sections 234A, 234B, and 234C by the Assessing Officer for the assessment year 1993-94. The Tribunal determined that the levy of interest is mandatory and does not necessitate a hearing, citing precedents from the Karnataka and Punjab & Haryana High Courts. Despite the CIT(A) setting aside the interest based on different interpretations, the Tribunal emphasized that the new provisions must be construed based on their language, ultimately ruling in favor of the Revenue and restoring the interest charged by the Assessing Officer. en-us Tue, 11 Sep 2001 00:00:00 +0530 Mon, 21 Feb 2011 16:50:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66125 The Tribunal upheld the Revenue's appeal, reinstating the interest levied under sections 234A, 234B, and 234C by the Assessing Officer for the assessment year 1993-94. The Tribunal determined that the levy of interest is mandatory and does not necessitate a hearing, citing precedents from the Karnataka and Punjab & Haryana High Courts. Despite the CIT(A) setting aside the interest based on different interpretations, the Tribunal emphasized that the new provisions must be construed based on their language, ultimately ruling in favor of the Revenue and restoring the interest charged by the Assessing Officer. Case-Laws Income Tax Tue, 11 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66125