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2009 (12) TMI 542 - HC - Income TaxInterest under section 234B(3) - assessee a banking company filed a loss return -reassessment resulted into a positive assessment - interest for non-payment of advance tax - Held that: - omission of the officer to levy interest under section 234B(3) in the first reassessment completed under section 147 which could have been rectified under section 154 does not bar the officer from levying interest under the very same provision, when the assessment was again revised a second time under section 147 - differential amount on which interest could be demanded under section 234B(3) is actually on the total short fall in advance tax payable with reference to the revised assessment completed under section 147 of the Act - Appeal is dismissed
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