reported in 337 ITR 470, wherein
interest charged under sections 234B and 234C in the similar situation
was cancelled.
15. On the other hand ... situation had arisen in the
context of levy of interest under sections 234B and 234C and the interest
charged by the Assessing Officer under sections
this appeal of assessee is as to whether interest u/s.
234B of the Act could be levied in the facts and circumstances ... order to rectify the mistake in
under charging of interest u/s. 234B of the Act. The Ld. AO ultimately charged interest u/s.
234B
CITA is justified in
directing the ld AO that interest u/s 234B and 234C of the Act should not be charged on
account ... erred in law in directing that
the interest u/s. 234B and 234C of the Act should not be charged on account of addition
interest liability to a tune of Rs. 8,08,566/- under section 234B . Request for rectification
was rejected.
2
ITA Nos. 151-152/Kol/2014 ... this factual situation the AO added interest u/s. 234B and 220(2) of the Act for
both the years. Challenging the action
with rule 8D.
4. For that the provisions of section 234B and 234C have no application in
case of computation of income under section 115JB ... Page 3
1. For that in any event the provisions of section 234B and 234C are not
attracted in a case where there
charged by the A.O u/s 234B and 234C of the Act without
considering the facts that no such interest was payable ... time the Book
Profit u/s 115JA and charging interest u/s 234B & 234C therein, referred
to by the Ld. CIT(A) while confirming
submitted that Ld. CIT(A) erred in charging interest u/s 234B /C, which is
reproduced below:-
"Additional ground
"For that ... facts and in the circumstances of the case interest u/s.
234B and u/s. 234C of the Income Tax Act, 1961 should not have
seized
amount.
4. However, the AO added interest u/s. 234A , 234B and 234C of the Income-tax Act,
1961 (hereinafter referred ... Challenging the action of the
AO in adding the interest u/s. 234B and 234C of the Act without giving credit of the seized
cash
justified and grossly erred in confirming the levy of interest u/ s 234B after 01-04-2009 on the
incremental amount of tax which arose ... justified rather grossly erred in confirming imposition of interest of u/s 234B."
8. At the time of hearing Ld. Counsel for the assessee
Damodar Valley Corporation, Kolkata vs Assessee on 13 January, 2016
IN THE INCOME TAX APPELLATE
