https://www.taxtmi.com/caselaws?id=459306 Gujarat HC held that non-resident assessee was not liable to pay interest under sections 234B and 234C for periods prior to FY 2012-13. Court ruled that before the Finance Act 2012 amendment, assessees could reduce TDS amounts while computing advance tax liability under section 209(1)(d), even when receiving full payments without deduction. Following SC precedent in Mitsubishi Corporation, HC found no default in advance tax payment occurred, thus no interest liability arose. Revenue could pursue defaulting payers separately under other provisions. en-us Tue, 26 Sep 2023 00:00:00 +0530 Sat, 07 Dec 2024 19:39:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459306 Gujarat HC held that non-resident assessee was not liable to pay interest under sections 234B and 234C for periods prior to FY 2012-13. Court ruled that before the Finance Act 2012 amendment, assessees could reduce TDS amounts while computing advance tax liability under section 209(1)(d), even when receiving full payments without deduction. Following SC precedent in Mitsubishi Corporation, HC found no default in advance tax payment occurred, thus no interest liability arose. Revenue could pursue defaulting payers separately under other provisions. Case-Laws Income Tax Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459306