“ interest under section 234B ”

CIT v. Anjum M.H. Ghaswala

Rule 8D, for computing disallowance under Section 14A for expenses related to exempt income, applies from Assessment Year 2008-09 onwards; for prior years, a reasonable disallowance must be made. The disallowance under Section 14A cannot exceed the actual exempt income earned.

252 ITR 1 · 2001 · Supreme Court

452

CIT v. EKL Appliances Ltd.

Levy of interest under sections 234A, 234B, and 234C of the Income Tax Act is mandatory. Tax statutes are to be interpreted strictly, allowing no room for purposive interpretation.

345 ITR 241 · 2012 · High Court

422

CIT v. Cotton Naturals (I) (P.) Ltd.

Transfer pricing adjustments for outstanding receivables are permissible only if the Tax Officer establishes, through analysis over a period, a pattern indicating an international transaction intended to benefit an associated enterprise. The Tax Officer cannot question purely business decisions like royalty payments or exceed jurisdiction by applying cost-benefit analysis to determine the arm's length price of services.

55 Taxmann.com 523 · 2015 · High Court

273

DIT v. GE Packaged Power Inc.

The interest rate for benchmarking foreign currency loans advanced to Associated Enterprises should be the market-determined rate applicable to the currency of the loan, such as LIBOR for US Dollar loans, rather than a domestic lending rate like the Indian PLR.

373 ITR 65 · 2015 · High Court

199

Karanvir Singh Gossal v. CIT

Interest under section 234B for default in payment of advance tax is not leviable when the entire income is subject to tax deduction at source under section 195, as no advance tax liability arises for the assessee in such circumstances.

349 ITR 692 · 2012 · Supreme Court

158

DIT v. NGC Network Asia LLC

The Supreme Court's decision establishes principles or grounds for seeking a waiver of mandatory interest levied under Sections 234A, 234B, and 234C of the Income Tax Act, 1961.

313 ITR 187 · 2009 · High Court

144

80P(2)(d) of the Act. In Kaliandas Udyag Bhavan Premises Co-op Society Ltd. v. ITO

Where a duty is cast on the payer to deduct and pay tax at source under Section 195, the payee-assessee cannot be levied interest under Section 234B for failure to pay advance tax if the payer defaults on its TDS obligation. This principle may also extend to interest under Section 234C.

94 Taxmann.com 15 · 2018 · ITAT

130

ITA 995/DEL/2021[2016-17]Status: DisposedITAT Delhi28 Feb 2024AY 2016-17

A co-operative society, even if it is a co-operative bank whose general deduction under Section 80P is restricted by Section 80P(4), can still claim a deduction under Section 80P(2)(d) for interest income derived from its investments held with another co-operative society, as it retains its identity as a co-operative society.

Judgments citing interest under section 234B

Iomedia India Private Limited, Delhi vs. ACIT Circle-12(2), New Delhi

In the result, the appeal of the assessee is partly allowed

Bench: Shri M. Balaganesh & Shri Yogesh Kumar Usm/S. Iomedia India Pvt. Ltd, Vs. Acit, Level-4, Regus Rectangle Circle-12(3), No. 1, D-4, Saket, New Delhi Commercial Complex, Delhi (Appellant) (Respondent) Pan: Aacci5116N

For Appellant: Mr. Pancham Sethi, CAFor Respondent: Shri Rajesh Kumar, CIT(DR)

Section 234BSection 234CSection 271(1)(c)Section 271ASection 92C

receivables. 4. Based on the facts and circumstances of the case and in law, the Ld. AO has erred in proposing to charge interest under section 234B, section 234C. 5. Based on the facts and circumstances of the case and in law, the Ld. AO has erred in issuing penalty

DCIT-3(1)(1), Mumbai vs. Ecgc Limited, Mumbai

In the result, all the appeals of the assessee are partly allowed

ITA 3813/MUM/2023[2016-17]Status: DisposedITAT Mumbai27 Feb 2024AY 2016-17

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopal

For Appellant: Shri Vijay Mehta, A.R. a/wFor Respondent: Shri Biswanath Das, D.R

ITA 3812/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Feb 2024AY 2017-18

ITAT as referred above on similar issue and identical facts this ground of appeal of the assessee is allowed. Ground No.3 : Levy of interest under section 234B & 234C of the Act 13. This ground is consequential in nature which is not required any adjudication, therefore, the same is dismissed ... directed to allow the claim of exemption. Therefore, this ground of appeal of the assessee is allowed. Ground No.4 : Levy of interest under section 234B & 234C 27. This ground of the assessee is consequential in nature which does not require any adjudication, hence the same stands dismissed. ITA No.3812/M/2023

DCIT-3(1)(1), Mumbai vs. Ecgc Limited, Mumbai

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopal

For Appellant: Shri Vijay Mehta, A.R. a/wFor Respondent: Shri Biswanath Das, D.R

Section 10(38)Section 14ASection 234Section 234B

Ecgc Limited, Ecgc Bhawan vs. ACIT, New Marine Lines Mumbai

ITA 3551/MUM/2023[2016-17]Status: DisposedITAT Mumbai27 Feb 2024AY 2016-17

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopal

For Appellant: Shri Vijay Mehta, A.R. a/wFor Respondent: Shri Biswanath Das, D.R

Section 10(38)Section 14ASection 234Section 234B

Ecgc Limited, Ecgc Bhawan vs. ACIT, New Marine Lines Mumbai

In the result, all the appeals of the assessee are partly allowed

ITA 3544/MUM/2023[2017-18]Status: DisposedITAT Mumbai27 Feb 2024AY 2017-18

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopal

For Appellant: Shri Vijay Mehta, A.R. a/wFor Respondent: Shri Biswanath Das, D.R

ITA 3543/MUM/2023[2018-19]Status: DisposedITAT Mumbai27 Feb 2024AY 2018-19

Ecgc Limited, Ecgc Bhawan vs. National E-Assessment Centre, Delhi

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopal

For Appellant: Shri Vijay Mehta, A.R. a/wFor Respondent: Shri Biswanath Das, D.R

ITA 3542/MUM/2023[2020-21]Status: DisposedITAT Mumbai27 Feb 2024AY 2020-21

Ecgc Limited, Ecgc Bhawan vs. AO, New Marine Lines, Mumbai

In the result, all the appeals of the assessee are partly allowed

Bench: Shri Amarjit Singh & Ms. Kavitha Rajagopal

For Appellant: Shri Vijay Mehta, A.R. a/wFor Respondent: Shri Biswanath Das, D.R

ITA 687/MUM/2021[2016-17]Status: DisposedITAT Mumbai26 Feb 2024AY 2016-17

Supermax Personal Care P. Ltd., Thane vs. Dy CIT -3(4), Mumbai

In the result, all the three appeals filed by the assessee are dismissed in above terms

Bench: Ms. Kavitha Rajagopal & Shri Gagan Goyal

For Appellant: Shri Subhash Gupta & Shri AjinkyaFor Respondent: Shri Rajesh Kumar Yadav, Ld. DR

Section 250Section 32(1)Section 32(1)(iia)Section 92C

under section 234A of the Act without appreciating that the return of income was filed within the specified due date. Levy of interest under section 234B of the Act 17. Erred in levying interest under section 234B of the Act. The above grounds of appeal are independent and without prejudice

Parth Pragati Mandal, Sabarkantha vs. The ITO(Exemption), Palanpur

In the result, appeal preferred by the appellant is allowed for statistical purposes

ITA 882/AHD/2023[2018-19]Status: DisposedITAT Ahmedabad23 Feb 2024AY 2018-19

Bench: Shri Waseem Ahmed & Ms. Madhumita Royआयकर अपील सं./I.T.A. No. 882/Ahd/2023 ("नधा"रण वष" / Assessment Year : 2018-19) Parth Pragati Mandal The Income Tax Officer बनाम/ 19, Umiya Parivar Society, (Exemption) Vs. Valasana Road, Idar, Palanpur Sabarkantha – 383430, Gujarat "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aabtp4353N (Appellant) .. (Respondent) Shri Tej Shah, A.R. अपीलाथ" ओर से /Appellant By : ""यथ" क" ओर से/Respondent By : Shri C S Sharma, Sr. Dr 21/02/2024 Date Of Hearing 23/02/2024 Date Of Pronouncement O R D E R Per Ms. Madhumita Roy - Jm: The Instant Appeal Filed At The Instance Of The Assessee Is Directed Against The Order Dated 05.09.2023 Passed By The National Faceless Appeal Centre (Nfac), Delhi, Arising Out Of The Order Dated 13.09.2021 Passed By The Ao, Nfac, Delhi, Under Section 143(3) Of The Income Tax Act, 1961, (Hereinafter Referred To As ‘The Act’), Raising A Demand Of Rs.2,30,409/- For Assessment Year 2018-19, Whereby & Whereunder The Appeal Filed By The

For Respondent: Shri C S Sharma, Sr. DR

Section 11Section 12ASection 143Section 143(3)Section 234BSection 80G(5)

total income of Rs.8,96,213/- and added the same to the total income of the appellant. He has further applied the interest under Section 234B, 234C & 234D of the Act. Against the same, the appellant preferred appeal before the First Appellate Authority, admittedly, which was barred by limitation

Saic Motor Overseas Intelligent Mobility Technology Co . Ltd., Shanghai vs. Assistant Commissioner of Income Tax, International Taxation, Hsiidc Building

In the result, appeal of the assessee is allowed for statistical purposes

ITA 2194/DEL/2023[2020-21]Status: DisposedITAT Delhi23 Feb 2024AY 2020-21

Bench: Shri Shamim Yahya & Ms. Astha Chandraasstt. Year: 2020-21

For Appellant: Shri Ajay Vohra, Sr. AdvocateFor Respondent: Shri Vizay B. Vasanta, CIT-DR

Section 115ASection 143(3)Section 144CSection 144C(13)Section 234ASection 234BSection 270ASection 9(1)(vi)

within the extended due date for filing the tax return. 7. That the assessing officer erred on facts and in law in levying interest under section 234B of the Act. 8. That the mechanical endorsement in the impugned order to the effect that penalty under section 270A ... resident company, tax deductible at source has been paid, it would not be permissible for the Revenue to charge any interest under section 234B for alleged failure to pay advance tax by such assessee. He submitted that this issue is covered by the decision of the Coordinate Bench

Smt. Priyanka Ganguly, Kolkata vs. D.C.I.T.(It)-Circle-2(1), Kolkata

In the result, the appeal filed by the assessee in ITA No

ITA 2619/KOL/2019[2016-17]Status: DisposedITAT Kolkata19 Feb 2024AY 2016-17

Bench: Dr. Manish Borad&Shri Anikesh Banerjee]

Section 143(3)Section 23Section 234BSection 234DSection 24Section 250

friend as income without allowing me an opportunity to provide additional details/evidences. 4. The CIT(A) erred in upholding levy of interest under section 234B and section 234D of the Act. 5. Each one of the above grounds of appeal is without prejudice to the other. 6. The appellant craves

Satyam Home Appliances Pvt. Ltd.(Erstwhile Company Represented by Ex-Director Ms. Seema Mangla), New Delhi vs. ITO Ward 22(4), New Delhi

In the result, the assessee’s appeal is allowed for statistical purposes

ITA 210/DEL/2023[2009-10]Status: DisposedITAT Delhi16 Feb 2024AY 2009-10

Bench: Shri Shamim Yahyasatyam Home Appliances Pvt. Ltd., Vs. Ito, Ward 22 (4), (Erstwhile Company Represented By New Delhi. Ex-Director, Ms. Seema Mangla), B-144, Prashant Vihar, Rohini, Delhi – 110 085. (Pan : Aakcs4230M)

For Appellant: Shri Vibhu Gupta, AdvocateFor Respondent: Shri Om Prakash, Sr. DR

Section 143(3)Section 147Section 148Section 151Section 153CSection 234BSection 68

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘SMC’ : NEW DELHI BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER Satyam Home Appliances

Anjali Puri, New Delhi vs. DCIT Circle Intl. Tax 2(2)(2), New Delhi

In the result, the appeal of the assessee is allowed

ITA 2107/DEL/2023[2020-21]Status: DisposedITAT Delhi14 Feb 2024AY 2020-21

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: Sh. Vishal Kalra, Adv. &For Respondent: Sh. Vizay B. Vasanta, CIT-DR

Section 139(1)Section 143(3)Section 144C(1)Section 14C(3)Section 192Section 234BSection 270ASection 6(1)Section 9Section 90

section 9 of the Act. 7. That on the facts and circumstances of the case and in law, the AO erred in levying interest under Section 234B of the Act. 8. That on the facts and circumstances of the case and in law, the AO erred in initiating penalty proceedings

Varian Medical Systems International (India) Private Limited, Mumbaiqqq vs. Assessment Unit NFAC Cetnre ITO, Ministry of Finance Delhi, Delhi

In the result, the appeal of the assessee is partially allowed

ITA 2496/MUM/2022[2018-2019]Status: DisposedITAT Mumbai13 Feb 2024AY 2018-2019

Bench: Shri Narender Kumar Choudhry, Jm & Ms Padmavathy S, Am

For Appellant: Shri Ajit Jain a/w Shri Siddesh

Section 143(1)Section 144CSection 234BSection 234CSection 270ASection 37(1)Section 68Section 92C

grant of advance tax credit Ground No. 8 (8.1 & 8.2) Short grant of TDS credit Ground No. 9 (9.1 & 9.2) Incorrect calculation of interest under section 234B of Ground No. 10 (10.1 to 10.3) the Act Levy of additional interest under section 234C Ground No.11 (11.1 to 11.3) Initiation ... that the assessee be given a reasonable opportunity of being heard. 38. Ground No. 1 & 11 with regard to levy of interest under section 234B & 234C and Ground No. 12 with regard to initiation of penalty under section 270A of the Act are consequential not warranting as separate adjudication

Expeditors International of Washington Inc, Usa vs. ACIT Circle 1(2)(2) International Taxation, New Delhi

In the result, the appeal of the assessee is allowed

ITA 2855/DEL/2023[2021-2022]Status: DisposedITAT Delhi09 Feb 2024AY 2021-2022

Bench: N.K. Billaiya & Ms. Astha Chandraasstt. Year: 2021-22

For Appellant: Shri Deepak ChopraFor Respondent: Shri Vizay B. Vasanta, CIT-DR

Section 143(3)Section 234ASection 234BSection 270ASection 9(1)(vi)Section 9(1)(vii)

That without prejudice to any other ground of appeal, the AO on the facts and in law, has erred in levying interest under section 234B of the Act. 7. That on the facts and in law, the AO has erred in initiating penalty proceedings under section 270A

M/S Six Continents Hotels Inc., Gurgaon vs. The Dy CIT Circle-4(2)(1), International Taxation, Mumbai

ITA 6657/MUM/2019[2015-16]Status: DisposedITAT Mumbai08 Feb 2024AY 2015-16

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: Revenue byFor Respondent: S/Shri S.K. Aggarwal a/w Siddesh Chaugule

ITA 6656/MUM/2019[2014-15]Status: DisposedITAT Mumbai08 Feb 2024AY 2014-15

M/S Six Continents Hotels Inc., Gurgaon vs. Dy CIT Circle 4 (2)(1)(Inter National Taxation), Mumbai

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: S/Shri S.K. Aggarwal a/w Siddesh ChauguleFor Respondent: Shri Anil Sant

ITA 6655/MUM/2019[2013-14]Status: DisposedITAT Mumbai08 Feb 2024AY 2013-14

Six Continents Hotels Inc., Gurgaon vs. Dy CIT Circle- 4 (2)(1), Mumbai

In the result, the appeal by the assessee for the assessment year 2012-

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: S/Shri S.K. Aggarwal a/w Siddesh ChauguleFor Respondent: Shri Anil Sant

ITA 3662/MUM/2019[2012-13]Status: DisposedITAT Mumbai08 Feb 2024AY 2012-13

Appellant. 2. On the facts and circumstances of the case and in law, the CIT(A) has erred in not appreciating that the interest under section 234B of the Act levied by the AO is incorrect. 3. The above grounds of appeal are independent and without prejudice to one another ... Continents Hotels, Inc. ITA no.3362/Mum./2019, ITA no.6655/Mum./2019, ITA no.6656/Mum./2019, ITA no.6657/Mum./2019 14. Ground no.2 pertains to the levy of interest under section 234B of the Act, which is consequential in nature. Therefore, the same needs no separate adjudication. 15. In the result, the appeal

Six Continents Hotels, Inc, Mumbai vs. DCIT (It) - 4(2)(1), Mumbai

In the result, the appeal by the assessee for the assessment year 2012-

Bench: Shri Om Prakash Kant & Shri Sandeep Singh Karhail

For Appellant: S/Shri S.K. Aggarwal a/w Siddesh ChauguleFor Respondent: Shri Anil Sant