https://www.taxtmi.com/caselaws?id=209354 The High Court dismissed the appeal, affirming the Tribunal's decision that no interest under sections 234B and 234C was chargeable for the assessment year 1992-93. The Court held that the application of section 34A(4) and unforeseen changes in tax liability justified the non-levy of interest. Interest was deemed not payable as the assessed taxes were paid before the return filing due date, and alterations in tax liability were unforeseeable at the time of filing returns. The Court ruled that interest could only be calculated up to the date of the regular assessment, not the rectification order, as the tax payment was timely based on the original return income. en-us Mon, 22 Nov 2010 00:00:00 +0530 Tue, 07 Feb 2012 19:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209354 The High Court dismissed the appeal, affirming the Tribunal's decision that no interest under sections 234B and 234C was chargeable for the assessment year 1992-93. The Court held that the application of section 34A(4) and unforeseen changes in tax liability justified the non-levy of interest. Interest was deemed not payable as the assessed taxes were paid before the return filing due date, and alterations in tax liability were unforeseeable at the time of filing returns. The Court ruled that interest could only be calculated up to the date of the regular assessment, not the rectification order, as the tax payment was timely based on the original return income. Case-Laws Income Tax Mon, 22 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209354