https://www.taxtmi.com/caselaws?id=412530 Whether interest under s.234B is automatically leviable for short/non-payment of advance tax where tax was not deducted at source: SC construed s.209(1)(d) with the proviso (Finance Act, 2012) and held that pre-2012 amendment an assessee could reduce advance-tax liability by the amount of tax deductible/collectible at source; hence the pre-conditions of s.234B (liability to pay advance tax and short/non-payment thereof) were not satisfied for the periods before AY 2013-14. Outcome: s.234B interest could not be levied for those periods; post-2012 amendment the proviso prevents such reduction. Decision for the assessee. en-us Fri, 17 Sep 2021 00:00:00 +0530 Thu, 15 Jan 2026 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412530 Whether interest under s.234B is automatically leviable for short/non-payment of advance tax where tax was not deducted at source: SC construed s.209(1)(d) with the proviso (Finance Act, 2012) and held that pre-2012 amendment an assessee could reduce advance-tax liability by the amount of tax deductible/collectible at source; hence the pre-conditions of s.234B (liability to pay advance tax and short/non-payment thereof) were not satisfied for the periods before AY 2013-14. Outcome: s.234B interest could not be levied for those periods; post-2012 amendment the proviso prevents such reduction. Decision for the assessee. Case-Laws Income Tax Fri, 17 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412530