https://www.taxtmi.com/caselaws?id=776556 ITAT held that the assessee was not liable for interest under section 234B because the tax adjustment arose from a retrospective amendment to transfer-pricing provisions that could not have been foreseen when computing advance tax. Since the return was filed under the unamended law, the taxpayer could not be branded a defaulter for failure to pay advance tax; the CIT(A) erred in upholding the interest demand. Appeal allowed and interest charged under section 234B set aside. en-us Wed, 19 Mar 2025 00:00:00 +0530 Mon, 18 Aug 2025 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776556 ITAT held that the assessee was not liable for interest under section 234B because the tax adjustment arose from a retrospective amendment to transfer-pricing provisions that could not have been foreseen when computing advance tax. Since the return was filed under the unamended law, the taxpayer could not be branded a defaulter for failure to pay advance tax; the CIT(A) erred in upholding the interest demand. Appeal allowed and interest charged under section 234B set aside. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776556