https://www.taxtmi.com/caselaws?id=118652 The Tribunal allowed the appeals, directing the AO to recalculate interest under section 234B, ensuring compliance with section 140A. The Tribunal determined that interest should not be charged on interest and that adjustments towards interest payable should occur only at the time of filing the return. The AO's previous calculation approach was deemed incorrect, and the lower authorities' orders were set aside. The recalculation must independently consider interest under section 234B(1) without applying the contested method, thus favoring the appellant's claim. en-us Mon, 07 Nov 2005 00:00:00 +0530 Fri, 19 Apr 2024 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118652 The Tribunal allowed the appeals, directing the AO to recalculate interest under section 234B, ensuring compliance with section 140A. The Tribunal determined that interest should not be charged on interest and that adjustments towards interest payable should occur only at the time of filing the return. The AO's previous calculation approach was deemed incorrect, and the lower authorities' orders were set aside. The recalculation must independently consider interest under section 234B(1) without applying the contested method, thus favoring the appellant's claim. Case-Laws Income Tax Mon, 07 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118652