https://www.taxtmi.com/highlights?id=37546 Charging interest u/s. 234B(3) / (4) - The section 234B(4) states that if there is any increase or decrease in the income, correspondingly interest shall be increased or reduced accordingly. In the instant case, since reassessment u/s 147 of the Act was completed and in the reassessment the assessed income being higher, the interest is to be calculated as per section 234B(3) of the Income-tax Act, instead of section 234B(4) of the Income-tax Act. - AT en-us Mon, 15 Jan 2018 10:58:48 +0530 Mon, 15 Jan 2018 10:59:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=37546 Charging interest u/s. 234B(3) / (4) - The section 234B(4) states that if there is any increase or decrease in the income, correspondingly interest shall be increased or reduced accordingly. In the instant case, since reassessment u/s 147 of the Act was completed and in the reassessment the assessed income being higher, the interest is to be calculated as per section 234B(3) of the Income-tax Act, instead of section 234B(4) of the Income-tax Act. - AT Highlights Income Tax Mon, 15 Jan 2018 10:58:48 +0530 https://www.taxtmi.com/highlights?id=37546