Interest u/s 234B of Income Tax Act has to be Charged on Assessed Income and not on Returned Income: Jharkhand HC [Read Order]

By Kalyani B. Nair - On October 21, 2023 7:30 pm - 2 mins read

Interest Under Section 234B Of Income Tax Act - Income Tax - Assessed Income - Jharkhand High Court - Returned Income - Charged on Assessed Income - TAXSCAN

The Jharkhand High Court observed that the interest under Section 234B of the Income Tax Act, 1961 has to be charged on assessed income and not on returned income. The instant appeal is directed against the judgment, passed by the Income Tax Appellate Tribunal (ITAT), preferred by the assessee-respondent; wherein the ITAT allowed the appeal…

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