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2010 (7) TMI 394 - HC - Income TaxAdvance tax – Interest leviable with respect to tax on assessed income and not income declared – Disallowance of claim under sections 80HHC and 80-IB – Not a income taxable in view of sections 80HHC and 80-IB – Not a valid ground. An assessee is liable to pay interest under section 234B of the Act on the amount of income assessed under section 143(1) or 143(3) of the Act and not on the basis of income declared in the return by the assessee. - Parkash Agro's case [2007 -TMI - 35052 - PUNJAB AND HARYANA HIGH COURT].
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