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“interest under section 234B”

InterestSection 234BSection 234B1,475 judgments

The decision most relied on for interest under section 234B is Godrej & Boyce Mfg. Co. Ltd. v. DCIT (328 ITR 81), cited in 1,183 judgments on BharatTax.

Leading authorities on interest under section 234B

Godrej & Boyce Mfg. Co. Ltd. v. DCIT
328 ITR 81 · 2010 · High Court
1,183
citing judgments

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.

CIT v. Anjum M.H. Ghaswala
252 ITR 1 · 2001 · Supreme Court
452
citing judgments

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.

CIT v. EKL Appliances Ltd.
345 ITR 241 · 2012 · High Court
422
citing judgments

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.

CIT v. Cotton Naturals (I) (P.) Ltd.
55 Taxmann.com 523 · 2015 · High Court
273
citing judgments

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.

DIT v. GE Packaged Power Inc.
373 ITR 65 · 2015 · High Court
199
citing judgments

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.

Karanvir Singh Gossal v. CIT
349 ITR 692 · 2012 · Supreme Court
158
citing judgments

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.

DIT v. NGC Network Asia LLC
313 ITR 187 · 2009 · High Court
144
citing judgments

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.

80P(2)(d) of the Act. In Kaliandas Udyag Bhavan Premises Co-op Society Ltd. v. ITO
94 Taxmann.com 15 · 2018 · ITAT
130
citing judgments

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

M/S Tejats Networks Limited, Bangalore vs. Principal Commissioner of Income Tax Central, Bangalore

In the result, the appeals filed by the revenue in IT(TP)A No

ITA 1674/BANG/2018[2011-12]Status: DisposedITAT Bangalore09 Feb 2022AY 2011-12

Bench: Shri Chandra Poojari & Shri George George K.It(Tp)A Nos.296/Bang/2015 Assessment Year: 2010-11 M/S. Tejas Networks Ltd. Plot No.25, 5Th Floor Jp Software Park Acit, Circle-1, Ltu Vs. Electronic City, Phase I Bangalore Bangalore 560 100

For Appellant: Shri Jairam Raipura, D.RFor Respondent: Shri Annamalli & Shri Narendra Sharma, A.Rs
Section 154

that the appellant has fully disclosed all the facts in the return of income and that the appellant has not concealed income. 7. Interest under section 234B of the Act. The learned AO erred in levying interest under section 234B of the Act. The same is consequential in nature

Tejas Networks Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeals filed by the revenue in IT(TP)A No

ITA 694/BANG/2016[2011-12]Status: DisposedITAT Bangalore09 Feb 2022AY 2011-12

Bench: Shri Chandra Poojari & Shri George George K.It(Tp)A Nos.296/Bang/2015 Assessment Year: 2010-11 M/S. Tejas Networks Ltd. Plot No.25, 5Th Floor Jp Software Park Acit, Circle-1, Ltu Vs. Electronic City, Phase I Bangalore Bangalore 560 100

For Appellant: Shri Jairam Raipura, D.RFor Respondent: Shri Annamalli & Shri Narendra Sharma, A.Rs
Section 154

that the appellant has fully disclosed all the facts in the return of income and that the appellant has not concealed income. 7. Interest under section 234B of the Act. The learned AO erred in levying interest under section 234B of the Act. The same is consequential in nature

DCIT, Bangalore vs. M/S Tejas Networks Limited, Bangalore

In the result, the appeals filed by the revenue in IT(TP)A No

ITA 621/BANG/2016[2011-12]Status: DisposedITAT Bangalore09 Feb 2022AY 2011-12

Bench: Shri Chandra Poojari & Shri George George K.It(Tp)A Nos.296/Bang/2015 Assessment Year: 2010-11 M/S. Tejas Networks Ltd. Plot No.25, 5Th Floor Jp Software Park Acit, Circle-1, Ltu Vs. Electronic City, Phase I Bangalore Bangalore 560 100

For Appellant: Shri Jairam Raipura, D.RFor Respondent: Shri Annamalli & Shri Narendra Sharma, A.Rs
Section 154

that the appellant has fully disclosed all the facts in the return of income and that the appellant has not concealed income. 7. Interest under section 234B of the Act. The learned AO erred in levying interest under section 234B of the Act. The same is consequential in nature

Tejas Networks Limited, Bangalore vs. Asst.C.I.T., Bangalore

In the result, the appeals filed by the revenue in IT(TP)A No

ITA 468/BANG/2015[2010-11]Status: DisposedITAT Bangalore09 Feb 2022AY 2010-11

Bench: Shri Chandra Poojari & Shri George George K.It(Tp)A Nos.296/Bang/2015 Assessment Year: 2010-11 M/S. Tejas Networks Ltd. Plot No.25, 5Th Floor Jp Software Park Acit, Circle-1, Ltu Vs. Electronic City, Phase I Bangalore Bangalore 560 100

For Appellant: Shri Jairam Raipura, D.RFor Respondent: Shri Annamalli & Shri Narendra Sharma, A.Rs
Section 154

that the appellant has fully disclosed all the facts in the return of income and that the appellant has not concealed income. 7. Interest under section 234B of the Act. The learned AO erred in levying interest under section 234B of the Act. The same is consequential in nature

Asst.C.I.T., Bangalore vs. M/S Tejas Networks Limited, Bangalore

In the result, the appeals filed by the revenue in IT(TP)A No

ITA 296/BANG/2015[2010-11]Status: DisposedITAT Bangalore09 Feb 2022AY 2010-11

Bench: Shri Chandra Poojari & Shri George George K.It(Tp)A Nos.296/Bang/2015 Assessment Year: 2010-11 M/S. Tejas Networks Ltd. Plot No.25, 5Th Floor Jp Software Park Acit, Circle-1, Ltu Vs. Electronic City, Phase I Bangalore Bangalore 560 100

For Appellant: Shri Jairam Raipura, D.RFor Respondent: Shri Annamalli & Shri Narendra Sharma, A.Rs
Section 154

that the appellant has fully disclosed all the facts in the return of income and that the appellant has not concealed income. 7. Interest under section 234B of the Act. The learned AO erred in levying interest under section 234B of the Act. The same is consequential in nature

DCIT, Bangalore vs. M/S Tejas Networks Limited, Bangalore

In the result, the appeals filed by the revenue in IT(TP)A No

ITA 1119/BANG/2015[2010-11]Status: DisposedITAT Bangalore09 Feb 2022AY 2010-11

Bench: Shri Chandra Poojari & Shri George George K.It(Tp)A Nos.296/Bang/2015 Assessment Year: 2010-11 M/S. Tejas Networks Ltd. Plot No.25, 5Th Floor Jp Software Park Acit, Circle-1, Ltu Vs. Electronic City, Phase I Bangalore Bangalore 560 100

For Appellant: Shri Jairam Raipura, D.RFor Respondent: Shri Annamalli & Shri Narendra Sharma, A.Rs
Section 154

that the appellant has fully disclosed all the facts in the return of income and that the appellant has not concealed income. 7. Interest under section 234B of the Act. The learned AO erred in levying interest under section 234B of the Act. The same is consequential in nature

Dsv Solution P. Ltd., Mumbai vs. Addl/Jt/Dy/Asstt/CIT/ITO, National E-Assessment Centre, Delhi

In the result, the appeal filed by the assessee is allowed

ITA 922/MUM/2021[2016-17]Status: DisposedITAT Mumbai02 Feb 2022AY 2016-17

Bench: Shri Pramod Kumar & Shri Pavan Kumar Gadaledvs Solutions Pvt Ltd Vs. Additional/Joint/ A-203, The Qube, Cts Assistant No. 1489, Mv Road, Commissioner Of Marol, Andheri East, Income Tax, National Mumbai – 400059. E- Assessment Centre, Delhi. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaacu5306L Appellant .. Respondent Appellant By : Ms.Karishmaprataphekar.Ar Respondent By : Dr.Yogesh Kamat. Cit Dr Date Of Hearing 24.01.2022 Date Of Pronouncement 11.02.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm:

For Appellant: Ms.KarishmaPrataphekar.ARFor Respondent: Dr.Yogesh Kamat. CIT DR
Section 143(3)Section 234BSection 271(1)(c)Section 92C(1)

case and in law, the learned AO erred in not providing due credit of taxes deducted at source and thereby erred in computing interest under Section 234B of the Act. 10. On the facts and in the circumstances of the case and in law, the learned AO / learned TPO have

M/S Robert Bosch Engineering and Business Solutions Private Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeal filed by assessee stands allowed as indicated above and the appeal filed by revenue stands dismissed

ITA 608/BANG/2016[2011-12]Status: DisposedITAT Bangalore02 Feb 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 608/Bang/2016 Assessment Year : 2011-12 M/S. Robert Bosch The Deputy Engineering & Business Commissioner Of Solutions Pvt. Ltd., Income Tax, #123, Industrial Layout, Large Tax Payers Unit, Hosur Road, Koramangala, Circle 1, Bangalore – 560095. Vs. Bangalore. Pan: Aaacr7108R Appellant Respondent & It(Tp)A No. 445/Bang/2016 Assessment Year : 2011-12 (By Revenue) : Shri Percy Padiwala, Sr. Assessee By Advocate : Shri Sumer Singh Meena, Cit Revenue By Dr (Osd) Date Of Hearing : 20-12-2021 Date Of Pronouncement : 02-02-2022 Order Per Beena Pillaipresent Cross Appeals Are Filed By Assessee As Well As Revenue Against The Final Assessment Order Dated 28.01.2016 By The Ld.Dcit, Ltu, Circle -1, Bangalore U/S. 143(3) R.W.S. 144C Of The Act For Assessment Year 2011-12. In Revenue’S Appeal, The Following Grounds Are Raised. “1. The Directions Of Drp Is Opposed To Law & Facts Of The Case.

Section 10ASection 143(3)Section 144CSection 14ASection 80J

Appellant as against a sum of Rs 65,488,691 as granted by the AO. 12. The Learned AO has erred in charging interest under section 234B and 234D of the Act 13. The Learned AO has erred in initiating penalty proceedings under section

DCIT, Bangalore vs. M/S Robert Bosch Engineering & Business Solutions Private Limited, Bangalore

In the result, the appeal filed by assessee stands allowed as indicated above and the appeal filed by revenue stands dismissed

ITA 445/BANG/2016[2011-12]Status: DisposedITAT Bangalore02 Feb 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(Tp)A No. 608/Bang/2016 Assessment Year : 2011-12 M/S. Robert Bosch The Deputy Engineering & Business Commissioner Of Solutions Pvt. Ltd., Income Tax, #123, Industrial Layout, Large Tax Payers Unit, Hosur Road, Koramangala, Circle 1, Bangalore – 560095. Vs. Bangalore. Pan: Aaacr7108R Appellant Respondent & It(Tp)A No. 445/Bang/2016 Assessment Year : 2011-12 (By Revenue) : Shri Percy Padiwala, Sr. Assessee By Advocate : Shri Sumer Singh Meena, Cit Revenue By Dr (Osd) Date Of Hearing : 20-12-2021 Date Of Pronouncement : 02-02-2022 Order Per Beena Pillaipresent Cross Appeals Are Filed By Assessee As Well As Revenue Against The Final Assessment Order Dated 28.01.2016 By The Ld.Dcit, Ltu, Circle -1, Bangalore U/S. 143(3) R.W.S. 144C Of The Act For Assessment Year 2011-12. In Revenue’S Appeal, The Following Grounds Are Raised. “1. The Directions Of Drp Is Opposed To Law & Facts Of The Case.

Section 10ASection 143(3)Section 144CSection 14ASection 80J

Appellant as against a sum of Rs 65,488,691 as granted by the AO. 12. The Learned AO has erred in charging interest under section 234B and 234D of the Act 13. The Learned AO has erred in initiating penalty proceedings under section

Deutsche Cib Centre P.Ltd, Mumbai vs. Asst CIT 12(2)(1), Mumbai

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

ITA 2179/MUM/2015[2010-11]Status: DisposedITAT Mumbai31 Jan 2022AY 2010-11
Section 143(3)Section 144C(1)Section 144C(5)Section 37

raised by the assessee is allowed for statistical purposes. 9 M/s. Deutsche CIB Centre Private Limited 6. So far as charging of interest under section 234B / 234C / 234D of the Act are concerned, same are consequential in nature and thus AO is directed to compute the same, if leviable

Xchanging Solutions Limited, Bangalore vs. ITO, Bangalore

In the result, the appeals of the assessee are partly allowed and that of the revenue are dismissed

ITA 556/BANG/2016[2011-12]Status: DisposedITAT Bangalore19 Jan 2022AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

services rendered by the Appellant do not constitute technical services. 3. The learned AO has erred, in law, and on facts, in computing interest under Section 234B of the Act at Rs.36,37,685 as against Rs.36,01,814, computed by the Appellant at the time of filing its Return

ITO, Bangalore vs. M/S Xchanging Solutions Ltd., Bangalore

In the result, the appeals of the assessee are partly allowed and that of the revenue are dismissed

ITA 402/BANG/2016[2011-12]Status: DisposedITAT Bangalore19 Jan 2022AY 2011-12

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

services rendered by the Appellant do not constitute technical services. 3. The learned AO has erred, in law, and on facts, in computing interest under Section 234B of the Act at Rs.36,37,685 as against Rs.36,01,814, computed by the Appellant at the time of filing its Return

Xchanging Solutions Limited, Bangalore vs. DCIT, Bangalore

In the result, the appeals of the assessee are partly allowed and that of the revenue are dismissed

ITA 492/BANG/2015[2010-11]Status: DisposedITAT Bangalore19 Jan 2022AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

services rendered by the Appellant do not constitute technical services. 3. The learned AO has erred, in law, and on facts, in computing interest under Section 234B of the Act at Rs.36,37,685 as against Rs.36,01,814, computed by the Appellant at the time of filing its Return

DCIT, Bangalore vs. M/S Xchanging Solutions Ltd., Bangalore

In the result, the appeals of the assessee are partly allowed and that of the revenue are dismissed

ITA 459/BANG/2015[2010-11]Status: DisposedITAT Bangalore19 Jan 2022AY 2010-11

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Vikram Raghavan, AdvocateFor Respondent: Shri Arunkumar, CIT(DR)(TP)(ITAT), Bengaluru
Section 10ASection 10A(4)Section 143(3)Section 155

services rendered by the Appellant do not constitute technical services. 3. The learned AO has erred, in law, and on facts, in computing interest under Section 234B of the Act at Rs.36,37,685 as against Rs.36,01,814, computed by the Appellant at the time of filing its Return

Estate of Bomsifarrok Kaka, Mumbai vs. CIT (A)-Nafc, Delhi

ITA 747/MUM/2021[2019-20]Status: DisposedITAT Mumbai17 Jan 2022AY 2019-20

Bench: Shri Kuldip Singh & Shri Prashant Maharishiassessment Year: 2019-20

For Appellant: Shri Porus F. Kaka, A.RFor Respondent: Shri Anil Das, D.R
Section 143(1)Section 154Section 234BSection 250

rectification application under section 154 of the Income Tax Act, 1961 without a Ground of Appeal before him. GROUND NO. 4: LEVY OF INTEREST UNDER SECTION 234B AND 234C OF THE ACT; On the facts and circumstances of the case and in law, the learned DCIT,CPC erred in levying ... interest under section 234B and 234C of the Act. The Appellant prays that, the AO be directed to delete the levy of interest under section 234B and 234C of the Act. GROUND NO. 5; GENERAL: The Appellant craves leave to add to, alter, amend and / or delete the above grounds

Sri Sathya Sai Central Trust, Bangalore vs. Assistant Commissioner of Income Tax (Exemption), Circle-1, Bangalore

In the result, the appeals filed by the assessee in ITA

ITA 103/BANG/2021[2012-13]Status: DisposedITAT Bangalore17 Jan 2022AY 2012-13

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita No.1811/Bang/2018 & Assessment Year: 2014-15 & 2012-13 Respectively

For Appellant: Shri G. Venkatesh, A.RFor Respondent: Shri Sumer Singh Meena, D.R.(OSD)
Section 10Section 11Section 11(1)(a)Section 234BSection 250

income filed. Thus, the total refund claim as per return of income is Rs.31,64,988/-. However, the learned assessing officer levied interest under section 234B of the Act of Rs.31,38,638/- which incidentally is the exact amount of tax paid in excess of the tax liability. The assessee ... before the due date for payment of first installment of advance tax on 15.09.2011. Hence, there could not have been any levy of interest under section 234B of the Act. Further the quantum, period and rate are not discernible from the assessment order. In view of the above submissions

Sri Sathya Sai Central Trust, Bangalore vs. Assistant Commissioner of Income Tax (Exemption), Circle-1, Bangalore

In the result, the appeals filed by the assessee in ITA

ITA 1811/BANG/2018[2014-15]Status: DisposedITAT Bangalore17 Jan 2022AY 2014-15

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariita No.1811/Bang/2018 & Assessment Year: 2014-15 & 2012-13 Respectively

For Appellant: Shri G. Venkatesh, A.RFor Respondent: Shri Sumer Singh Meena, D.R.(OSD)
Section 10Section 11Section 11(1)(a)Section 234BSection 250

income filed. Thus, the total refund claim as per return of income is Rs.31,64,988/-. However, the learned assessing officer levied interest under section 234B of the Act of Rs.31,38,638/- which incidentally is the exact amount of tax paid in excess of the tax liability. The assessee ... before the due date for payment of first installment of advance tax on 15.09.2011. Hence, there could not have been any levy of interest under section 234B of the Act. Further the quantum, period and rate are not discernible from the assessment order. In view of the above submissions

Cenduit (India) Services Private Limited, Bangalore vs. The Deputy Commissioner of Income Tax, Circle-2(1)(1), Bangalore

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

ITA 227/BANG/2021[2016-17]Status: DisposedITAT Bangalore12 Jan 2022AY 2016-17

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri Ketan K. Ved, CAFor Respondent: Shri Sunil Kumar Singh, CIT(DR)(ITAT), Bengaluru
Section 143(3)

erred in not relying on the judicial rulings wherein, it was held that education cess is an allowable expense. 12. Levy of consequential interest under section 234B of the Act 12.1 The Ld. AO erred in levying interest under section 234B of the Act which is consequential to the grounds

M/S. Cisco Systems Services B.V. India Branch, Bengaluru vs. Deputy Commissioner of Income Tax, International Taxation, Circle- 1(1), Bangalore

In the result, the appeal by the assessee is allowed

ITA 2572/BANG/2019[2011-12]Status: DisposedITAT Bangalore12 Jan 2022AY 2011-12

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiit(It)A No. 2572/Bang/2019 Assessment Year : 2011-12 M/S. Cisco Systems Services B.V. – India The Deputy Branch, Commissioner Of Brigade South Parade, Income Tax, No. 10, Mahatma Gandhi International Taxation, Road, Circle – 1(1), Vs. Bangalore – 560 001. Bangalore. Pan: Aaccc4836D Appellant Respondent Assessee By : Shri Rajan Vora, Ca Revenue By : Shri Pradeep Kumar, Cit (Dr) Date Of Hearing : 04-01-2022 Date Of Pronouncement : 12-01-2022 Order Per Beena Pillaithis Appeal By Assessee Is Directed Against The Order Of The Ld.Ao Dated 31.12.2015 Passed U/S. 143(3) R.W.S. 144C(13) Of The Income-Tax Act, 1961 [The Act] On The Following Grounds: “Based On The Facts & Circumstances Of The Case & In Law, Cisco Systems Services B.V. —India Branch (Hereinafter Referred To As 'The Appellant'), Respectfully Craves Leave To Prefer An Appeal Against The Order Passed By The Learned Assessing Officer (Hereinafter Referred To As The 'Learned Ao') Dated October 15, 2019 Under Section 147 Read With Section 143(3) Read With Section 144C Of The Income-Tax Act, 1961 (`The Act') Pursuant To The Directions Dated September 23, 2019 Issued By The Drp U/S 144C(5) Of The Act ('The Impugned Order') Inter-Alia On The Following Grounds:

For Appellant: Shri Rajan Vora, CAFor Respondent: Shri Pradeep Kumar, CIT (DR)
Section 143(3)Section 144CSection 144C(13)Section 144C(5)Section 147Section 156Section 234BSection 271(1)(c)Section 92C(2)

same is under a different taxing statute and cannot be a basis for making an adjustment under the Income-tax Act, 1961; Interest under section 234B of the Act 9. Erred in levying interest of INR 24,06,03,134 under section 234B of the Act, on account

Geodis Overseas Pvt. Ltd., Gurgaon vs. DCIT, Circle-10(1), New Delhi

In the result, appeal of the Assessee is allowed

ITA 4771/DEL/2018[2013-14]Status: DisposedITAT Delhi10 Jan 2022AY 2013-14

Bench: Shri R.K. Panda & Ms. Suchitra Kamble

For Appellant: Shri Vishal Kalra, AdvocateFor Respondent: Shri Kumar Padmapani Bora, Sr. DR
Section 234BSection 234DSection 250(6)Section 32Section 32(1)(ii)

That on the facts and circumstances of the case and in law, the AO erred in levying interest under section 234B and section 234D of the Act. 3 ITA.No.4771/Del./2018 Geodis Overseas Private Limited, Gurgaon. The appellant craves leave to add, amend, alter or vary, any of the aforesaid