783/CBDT.

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..... section 139(1) of the IT Act, 1961 in the case of a Registered Firm has been re-examined. Explanation 2 of clause (a) of sub-section(8) of section 139(2) is quite explicit and clearly lays down that for the purpose of levy of interest where the assessee is a registered firm or an unregistered firm assessed under section 183(b), the tax payable on the total income shall be the amount of tax which .....

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