https://www.taxtmi.com/caselaws?id=350863 The High Court upheld the decision of the lower authorities, affirming the appellant's liability to pay interest under Sections 234A and 234B of the Income Tax Act. The court found that the appellant failed to furnish the return and deposit advance tax, leading to the justified imposition of interest. The court rejected arguments for deletion of interest based on seizure and appropriation of funds, emphasizing the mandatory nature of interest levy under the specified sections. The appellant's challenge regarding the interpretation of 'existing liability under the Act' was also dismissed, with the court ruling in favor of maintaining the interest obligations. en-us Thu, 09 Nov 2017 00:00:00 +0530 Tue, 26 Dec 2017 10:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350863 The High Court upheld the decision of the lower authorities, affirming the appellant's liability to pay interest under Sections 234A and 234B of the Income Tax Act. The court found that the appellant failed to furnish the return and deposit advance tax, leading to the justified imposition of interest. The court rejected arguments for deletion of interest based on seizure and appropriation of funds, emphasizing the mandatory nature of interest levy under the specified sections. The appellant's challenge regarding the interpretation of 'existing liability under the Act' was also dismissed, with the court ruling in favor of maintaining the interest obligations. Case-Laws Income Tax Thu, 09 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350863