https://www.taxtmi.com/caselaws?id=70669 The Tribunal upheld the levy of interest under section 234B, dismissing the assessee's appeal. It held that the assessee's total tax liability exceeded the threshold for advance tax payment under the Finance Act (No.1), 1996, and that the plea of not foreseeing the income addition was not acceptable. Additionally, the Tribunal dismissed the assessee's petition for rectification under section 154, stating that the issue of liability under section 234B was debatable and not a clear mistake apparent from the record. The final judgment upheld the Assessing Officer's decisions, denying relief to the assessee. en-us Fri, 02 Jun 2006 00:00:00 +0530 Fri, 14 Jun 2013 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70669 The Tribunal upheld the levy of interest under section 234B, dismissing the assessee's appeal. It held that the assessee's total tax liability exceeded the threshold for advance tax payment under the Finance Act (No.1), 1996, and that the plea of not foreseeing the income addition was not acceptable. Additionally, the Tribunal dismissed the assessee's petition for rectification under section 154, stating that the issue of liability under section 234B was debatable and not a clear mistake apparent from the record. The final judgment upheld the Assessing Officer's decisions, denying relief to the assessee. Case-Laws Income Tax Fri, 02 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70669