https://www.taxtmi.com/caselaws?id=433998 The Tribunal allowed the appeal, setting aside the CIT(A)'s order and directing the AO to delete the interest charged beyond the self-assessment tax payment date. It clarified that interest under sections 234A and 234B is compensatory and should only be levied until the tax payment date to prevent revenue loss. The Tribunal emphasized that charging interest post-tax payment does not serve the purpose of compensating revenue loss, in line with Supreme Court and High Court precedents. en-us Fri, 03 Feb 2023 00:00:00 +0530 Tue, 14 Feb 2023 13:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433998 The Tribunal allowed the appeal, setting aside the CIT(A)'s order and directing the AO to delete the interest charged beyond the self-assessment tax payment date. It clarified that interest under sections 234A and 234B is compensatory and should only be levied until the tax payment date to prevent revenue loss. The Tribunal emphasized that charging interest post-tax payment does not serve the purpose of compensating revenue loss, in line with Supreme Court and High Court precedents. Case-Laws Income Tax Fri, 03 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433998