Assessments involving assessed income of Rs. 5,000 completed during the financial years 1971-72 to 1973-74.

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..... n at the failure of the Department to levy interest in accordance with the various provisions of the Income-tax Act. A review was conducted about such failure in respect of assessments involving assessed income of Rs. 5,000 and above completed during the financial years 1971-72 to 1973-74. From the results of the review, it is seen that out of 1.61 lakhs assessments so reviewed, in about 12,000 as .....

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..... 27-11-74. iv) Board's Instruction NO.844(F.NO.400/39/75-ITCC)dated 12-06-75. The due observance of these instructions is essentially an administrative matter which should be ensured through appropriate supervision at your and the IACs levels. In view of the continuing concern expressed by the PAC on this subject you are requested to ensure that the recurrence of omissions to levy interest in .....

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