https://www.taxtmi.com/caselaws?id=753810 ITAT Mumbai held that interest under Section 234B cannot be levied for the period between original assessment order dated 31/01/2017 and reassessment order dated 18/12/2019. The assessee had already paid the original demand of Rs. 52.68 crores within the prescribed time limit in February 2017. Since the reassessment order accepted the same income as determined in the original assessment without any variation, and there was no outstanding liability during the intervening period, charging interest under Section 234B for this period was unjustified. The appeal was allowed and the interest computation was deleted. en-us Fri, 31 May 2024 00:00:00 +0530 Mon, 10 Jun 2024 09:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753810 ITAT Mumbai held that interest under Section 234B cannot be levied for the period between original assessment order dated 31/01/2017 and reassessment order dated 18/12/2019. The assessee had already paid the original demand of Rs. 52.68 crores within the prescribed time limit in February 2017. Since the reassessment order accepted the same income as determined in the original assessment without any variation, and there was no outstanding liability during the intervening period, charging interest under Section 234B for this period was unjustified. The appeal was allowed and the interest computation was deleted. Case-Laws Income Tax Fri, 31 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753810