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1984 (11) TMI 58 - HC - Income Tax
Extract:
.......tation of such interest. Section 201(1A) of the Income-tax Act, 1961, makes the payment of simple interest mandatory. The payment of interest thereunder is not penal provision. There is, therefore, no question of the waiver of such payment on the basis that the default was not intentional or on any other basis. The petition is dismissed with costs.