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2011 (10) TMI 663 - AT - Income TaxTreatment to loss - Held that:- No infirmity in the order of CIT(A) treating the loss from share trading as speculation loss and the same is therefore upheld. Levy of interest u/s. 220(2) - Held that:- The original assessment order has been set aside by the Tribunal and matter restored to the Assessing Officer for fresh assessment and therefore in view of the circular of CBDT No.334 Dt.3.4.1982 , the interest can be levied only from the date of default of the demand notice issued in pursuance of the fresh assessment order. The order of CIT(A) holding that interest under section 220(2) has to be levied from the date of default as per the original assessment order therefore cannot be sustained.
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