https://www.taxtmi.com/caselaws?id=354376 The Court upheld the Tribunal's decision to delete interest under Section 234B(3) of the Income Tax Act, stating that no liability existed under Section 234B(1) due to excess advance tax payments. The Court clarified that charging interest under Section 234B(1) is not a prerequisite for levying interest under Section 234B(3). As the assessee received refunds based on appellate orders, no liability under Section 234B(1) or Section 234B(3) was justified. The Assessing Officer's imposition of interest for a specific period was deemed unjustified, and the Court directed the Department to calculate interest paid to the assessee on the refunded amount. en-us Thu, 11 Jan 2018 00:00:00 +0530 Mon, 14 May 2018 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354376 The Court upheld the Tribunal's decision to delete interest under Section 234B(3) of the Income Tax Act, stating that no liability existed under Section 234B(1) due to excess advance tax payments. The Court clarified that charging interest under Section 234B(1) is not a prerequisite for levying interest under Section 234B(3). As the assessee received refunds based on appellate orders, no liability under Section 234B(1) or Section 234B(3) was justified. The Assessing Officer's imposition of interest for a specific period was deemed unjustified, and the Court directed the Department to calculate interest paid to the assessee on the refunded amount. Case-Laws Income Tax Thu, 11 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354376