https://www.taxtmi.com/caselaws?id=213464 The High Court emphasized that the assessing authority must consider all relevant cases, including Supreme Court decisions, when determining entitlement to investment allowance. The Court ruled that interest under Section 234B of the Income Tax Act is mandatory for default in payment of advance tax. It held that interest must be clearly mentioned in the assessment order and that charging interest is automatic post-amendment, placing the liability on the assessee. The Court decided in favor of the assessee, dismissing both income tax appeals. en-us Wed, 03 Aug 2011 00:00:00 +0530 Sat, 16 Feb 2013 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213464 The High Court emphasized that the assessing authority must consider all relevant cases, including Supreme Court decisions, when determining entitlement to investment allowance. The Court ruled that interest under Section 234B of the Income Tax Act is mandatory for default in payment of advance tax. It held that interest must be clearly mentioned in the assessment order and that charging interest is automatic post-amendment, placing the liability on the assessee. The Court decided in favor of the assessee, dismissing both income tax appeals. Case-Laws Income Tax Wed, 03 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213464