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| The Tax Publishers2019 TaxPub(DT) 6269 (SC) INCOME TAX ACT, 1961
Section 261 Section 234B Section 234C
Where the department preferred SLP to appeal against the judgment of Calcutta High Court in Pr. CIT v. Haldia Petrochemicals Ltd. [ITAT No. 161 of 2017 and GA No. 1416 of 2017, dt. 15-11-2018] : 2020 TaxPub(DT) 260 (Cal-HC), whereby the High Court held that imposition of interest was justified under sections 234B and 234C, save and except on income, which arose from retrospective operation of any statute, decision, etc., because in those type of cases, assessee was unable to know and assess his income and pay advance tax accordingly, the Supreme Court granted leave to department to appeal thereagainst and directed the Registry to tag with C.A. No. 12632/2017.
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Advance tax - Chargeability of interest - Interest on income arising from retrospective operation of any statute, decision, etc. -
Department preferred SLP to appeal against the judgment of Calcutta High Court in Pr. CIT v. M/s. Haldia Petrochemicals Ltd. [ITAT No. 161 of 2017 and GA No. 1416 of 2017, dt. 15-11-2018] : 2020 TaxPub(DT) 260 (Cal-HC), whereby the High Court held that imposition of interest was justified under sections 234B and 234C, save and except on income, which arose from retrospective operation of any statute, decision, etc., because in those type of cases, assessee was unable to know and assess his income and pay advance tax accordingly.Held: The Supreme Court granted leave to department to appeal thereagainst and directed the Registry to tag with C.A.No. 12632/2017.
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