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234a

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(Querist)
21 March 2013 Please , refer the case of Bharat Barrel & Drum Mfg Co. Decided by ITAT Mumbai on 03.10.12

My query is, while calculating interest u/s 234 A The credit for tax paid u/s 140 A shall be given or not?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 March 2013 There is no provision in section 234A to deduct the tax paid in between the due date and date of filing the return while calculating interest for belated filing of the return. Therefore, the cited tribunal decision ,in which credit given for Rs. 1.76 crores by way of tax paid as aforesaid, needs reconsideration.
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