CA Pratibha Goyal | Jun 6, 2023 |
Interest u/s 234A to 234D is consequential and mandatory in nature: ITAT
In matter of M/s. Iljin Automotive Pvt.Ltd. vs DCIT Ld. Sr. DR submitted that the returned income has been accepted and the assessee is merely assailing charging of interest u/s 234A to 234D which is consequential in nature.
Though the return of income was accepted u/s 143(3) r.w.s. 144B vide order dated 13-09-2021, the amount of total income was wrongly picked up in the computation sheet. Upon further appeal, Ld. CIT(A) directed Ld. AO to recompute the tax liability as per assessment order passed u/s 143(3). The Ld. AO was also directed to charge applicable interest as per law.
3. We find that the assessee’s grievance has adequately been addressed in the impugned order. However, we reiterate that interest u/s 234A to 234D is consequential and mandatory in nature and Ld. AO is directed to re-compute the same in accordance with law considering the income assessed u/s 143(3).
4. The appeal stand allowed in terms of our above order.
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