2015 (7) TMI 452 - SCH - Income Tax

Demand includes interest levied under Section 234(b) - an application for waiver in that regard is pending before the Commissioner of Income Tax at X Mumbai as per Annexure P-3 - Held that - As apprised that the amount of interest is about Rs. 15 lacs. Barring the interest amount the rest of the amount shall be deposited in the Department by end of August 2015.

Summary

The Supreme Court ordered the petitioner to deposit the amount except for interest of Rs. 15 lacs by the end of August 2015. The court directed the matter to be listed in the first week of September 2015 for further instructions, warning that failure to deposit the amount as directed would lead to dismissal of the special leave petition.