https://www.taxtmi.com/caselaws?id=433759 The court quashed the computation of interest under Section 234B(2A) of the Income Tax Act and directed the respondent to calculate interest only on the additional tax paid after providing credit for prepaid taxes. The court held that interest should not be charged on the entire amount when tax has already been paid, following established legal principles from previous court decisions. The respondent was instructed to recalculate the interest within eight weeks, and the petitioner was given two weeks to make the payment upon communication. en-us Wed, 01 Feb 2023 00:00:00 +0530 Wed, 08 Feb 2023 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433759 The court quashed the computation of interest under Section 234B(2A) of the Income Tax Act and directed the respondent to calculate interest only on the additional tax paid after providing credit for prepaid taxes. The court held that interest should not be charged on the entire amount when tax has already been paid, following established legal principles from previous court decisions. The respondent was instructed to recalculate the interest within eight weeks, and the petitioner was given two weeks to make the payment upon communication. Case-Laws Income Tax Wed, 01 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433759