https://www.taxtmi.com/caselaws?id=293941 The Appellate Tribunal ITAT Kolkata allowed the appeal for statistical purposes, directing reassessment of interest under section 234C for the assessment year 2005-06. The Tribunal held that interest cannot be levied on additions due to retrospective amendment to tax liability, citing section 115JB and previous legal interpretations. The matter was remanded to the Assessing Officer for reevaluation in light of the observations made, addressing both the levy of interest under section 234C and the impact of retrospective amendments on tax liability. en-us Thu, 19 Jan 2012 00:00:00 +0530 Wed, 10 Mar 2021 13:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293941 The Appellate Tribunal ITAT Kolkata allowed the appeal for statistical purposes, directing reassessment of interest under section 234C for the assessment year 2005-06. The Tribunal held that interest cannot be levied on additions due to retrospective amendment to tax liability, citing section 115JB and previous legal interpretations. The matter was remanded to the Assessing Officer for reevaluation in light of the observations made, addressing both the levy of interest under section 234C and the impact of retrospective amendments on tax liability. Case-Laws Income Tax Thu, 19 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293941