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2012 (4) TMI 486 - HC - Income TaxAppeal by Revenue against the Tribunal - challenging the order that interest under section 234B and 234C of the Act cannot be levied against the assessee as the computation of income has been made under Section 115JA of the Act – Held that:- The pre requisite condition for applicability of Section 234B is that the assessee is liable to pay tax under Section 208 and the expression "assessed tax" is defined to mean the tax on the total income determined under Section 143(1) or under Section 143(3) as reduced by the amount of tax deducted or collected at source - The expression "assessed tax" is defined to mean the tax assessed on regular assessment which means the tax determined on the application of Section 115J/115JA in the regular assessment - there is no exclusion of Section 115J/115JA in the levy of interest under section 234B – appeal of revenue accepted.
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