https://www.taxtmi.com/caselaws?id=214831 The Tribunal upheld the CIT (A) decision, ruling in favor of the assessee concerning the chargeability of interest under sections 234B and 234C of the Income-tax Act, 1961. The Tribunal considered the unique circumstances where the company's liability arose due to a retrospective amendment, absolving it from liability before the amendment. As there was no advance tax liability before the amendment, interest under sections 234B and 234C could not be imposed. The revenue's appeal was dismissed, and the order was pronounced on June 22, 2012, in favor of the assessee. en-us Fri, 22 Jun 2012 00:00:00 +0530 Mon, 21 Jan 2013 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214831 The Tribunal upheld the CIT (A) decision, ruling in favor of the assessee concerning the chargeability of interest under sections 234B and 234C of the Income-tax Act, 1961. The Tribunal considered the unique circumstances where the company's liability arose due to a retrospective amendment, absolving it from liability before the amendment. As there was no advance tax liability before the amendment, interest under sections 234B and 234C could not be imposed. The revenue's appeal was dismissed, and the order was pronounced on June 22, 2012, in favor of the assessee. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214831