https://www.taxtmi.com/caselaws?id=77064 The High Court ruled in favor of the assessee, holding that interest under Section 234-B of the Income Tax Act was not applicable to additional tax liability resulting from a retrospective amendment. The Court agreed with the lower authorities that it was unreasonable to expect the assessee to anticipate and pay advance tax for a liability created retrospectively. Therefore, the Court dismissed the appeals and clarified that interest under Section 234-B was not warranted in this scenario. en-us Tue, 22 Jun 2010 00:00:00 +0530 Fri, 13 Aug 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77064 The High Court ruled in favor of the assessee, holding that interest under Section 234-B of the Income Tax Act was not applicable to additional tax liability resulting from a retrospective amendment. The Court agreed with the lower authorities that it was unreasonable to expect the assessee to anticipate and pay advance tax for a liability created retrospectively. Therefore, the Court dismissed the appeals and clarified that interest under Section 234-B was not warranted in this scenario. Case-Laws Income Tax Tue, 22 Jun 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77064