https://www.taxtmi.com/caselaws?id=240199 Interest under section 234A of the Income-tax Act, 1961 is compensatory and is attracted only where tax remains payable for the default in filing the return. Where the assessee had already paid the tax, no monetary loss arose to the Revenue on that account, so section 234A interest could not be levied. Liability for delayed deposit of self-assessment tax under section 140A remained separate and was accepted, leaving the assessee liable only for that interest. en-us Mon, 11 Nov 2013 00:00:00 +0530 Thu, 28 Nov 2013 00:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240199 Interest under section 234A of the Income-tax Act, 1961 is compensatory and is attracted only where tax remains payable for the default in filing the return. Where the assessee had already paid the tax, no monetary loss arose to the Revenue on that account, so section 234A interest could not be levied. Liability for delayed deposit of self-assessment tax under section 140A remained separate and was accepted, leaving the assessee liable only for that interest. Case-Laws Income Tax Mon, 11 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240199