Income Tax - Highlights / Catch Notes
Income Tax - Levy of Interest u/s 158BFA(1) - Block assessment u/s 158BD...
Levy of Interest u/s 158BFA(1) - Block assessment u/s 158BD - in case of the person other than searched person the notice under Section 158BD would be required/sufficient and in case of late filing of the return under Section 158BC, the interest will be leviable under Section 158BFA. Any other interpretation would lead to Section 158BD nugatory. - SC