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2013 (7) TMI 66 - HC - Income TaxApplication of Section 234B - Levy of interest u/s 234B(1) or 234B(3) - Tribunal initiated proceedings for levy of interest against Assessee - Held that:- Assessee returned an original assessment under Section 143(1) of the Income Tax Act - Therefore, assessment was completed under Section 147 read with Section 143(3) of the Income Tax Act, computing the total income of the assessee - When the assessment in the assessee's case was admittedly made for the first time under Section 147 read with Section 143(3) of the Income Tax Act, the said assessment is a regular assessment attracting sub section (1) of Section 234B - Decided against the assessee.
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