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ITAT, Delhi: Interest Can’t be Levied on Additional Income Declared under Modified Return - (20 Apr 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Delhi has ruled that the interest under sections 234B and 234C of the Income Tax Act, 1961 for non/short payment of advance tax installment and delay in payment of income tax respectively can’t be levied on additional income agreed as per advance pricing agreement.

Tags : INCOME TAX APPELLATE TRIBUNAL   INCOME TAX ACT   1961   ADVANCE TAX INSTALLMENT   ADVANCE PRICING AGREEMENT  

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