https://www.taxtmi.com/caselaws?id=337312 The appeal filed by the revenue challenging the deletion of interest charged under section 234B of the Act was dismissed. The ITAT upheld the decision of the ld CIT(A) based on the legal position established by the Jurisdictional High Court. The High Court held that interest under section 234B should only be charged on the income declared in the return, not on the assessed income. The dismissal of the review petition by the Jharkhand High Court affirmed the validity of the High Court's decision until the Special Leave Petition filed by the revenue before the Supreme Court is disposed of. en-us Wed, 14 Dec 2016 00:00:00 +0530 Wed, 04 Jan 2017 18:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337312 The appeal filed by the revenue challenging the deletion of interest charged under section 234B of the Act was dismissed. The ITAT upheld the decision of the ld CIT(A) based on the legal position established by the Jurisdictional High Court. The High Court held that interest under section 234B should only be charged on the income declared in the return, not on the assessed income. The dismissal of the review petition by the Jharkhand High Court affirmed the validity of the High Court's decision until the Special Leave Petition filed by the revenue before the Supreme Court is disposed of. Case-Laws Income Tax Wed, 14 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337312