Interest u/s 234B on failure to deposit the advance tax in respect of tax payable u/s 115JB of Income Tax Act – Supreme Court admits the question in appeal
ABCAUS Case Law Citation:
ABCAUS 2663 (2018) (12) SC
The Revenue had filed a Civil Appeal on the questions as to whether interest was not payable by the assessee/respondent under Section 234B of the Income Tax Act, 1961 ( the Act) on failure to deposit the advance tax in respect of tax payable under Section 115JB of the Income Tax Act, 1961?
The Hon’ble Supreme Court has admitted the appeal and opined that the question of interest payable under Section 234B of the Act requires an in-depth hearing.