No interest chargeable u/s 234B/C on tax liability arising by virtue of retrospective amendment u/s 115JB of ITA Act.

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Last updated: 27 March 2021
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The Income Tax Appellate Tribunal has ruled that interest under sections 234B and 234C of the Income Tax Act cannot be charged on tax liabilities that arise due to a retrospective amendment of Section 115JB. This decision means that taxpayers are not liable for these specific interest charges when their tax obligations change retrospectively. The ruling clarifies the application of interest provisions in cases of amended tax laws.

Court :
ITAT Bangalore

Brief :
Present appeal has been filed by revenue against order dated 27/09/2019 passed by the Ld.CIT(A)-1, Bangalore on following grounds of appeal:

Citation :
ITA No.2508/Bang/2019

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