Interest u/s 234A to 234D is consequential and mandatory in nature: ITAT

Interest u/s 234A to 234D is consequential and mandatory in nature: ITAT

Income Tax Interest u/s 234A to 234D

CA Pratibha Goyal | Jun 6, 2023 |

Interest u/s 234A to 234D is consequential and mandatory in nature: ITAT

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.

ITAT Order:

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.

For Official Judgment Download PDF Given Below:

StudyCafe Membership

Join StudyCafe Membership. For More details about Membership Click Join Membership Button
Join Membership

In case of any Doubt regarding Membership you can mail us at [email protected]

Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"




Author Bio
My Recent Articles
Due Date Compliance Calendar and List of Festivals in April 2024 New NPS rule from 1st April: Check What is Changed in New NPS Rule Due Date for Mutual Fund ELSS Investment for 80C is 28th March not 31st March: Hurry Up Late MSME Payment section 43B(h) now reality: What to do in this case These Income Tax High Value Transactions that May Trigger Notice from IT Department; Check ListView All Posts