https://www.taxtmi.com/caselaws?id=330677 The Tribunal allowed the appeals, setting aside the levy of interest u/s 234B of the Income Tax Act concerning additions made due to retrospective amendments in law for the Assessment Years 2003-04 & 2004-05. The Tribunal held that interest u/s 234B should not be charged in situations involving subsequent amendments in law, citing legal precedents and finding that the appellant could not have foreseen the amendment. The decision was applied mutatis mutandis to the Assessment Year 2004-05. en-us Fri, 22 Jul 2016 00:00:00 +0530 Tue, 02 Aug 2016 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330677 The Tribunal allowed the appeals, setting aside the levy of interest u/s 234B of the Income Tax Act concerning additions made due to retrospective amendments in law for the Assessment Years 2003-04 & 2004-05. The Tribunal held that interest u/s 234B should not be charged in situations involving subsequent amendments in law, citing legal precedents and finding that the appellant could not have foreseen the amendment. The decision was applied mutatis mutandis to the Assessment Year 2004-05. Case-Laws Income Tax Fri, 22 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330677