9911796707
TMI BlogAmendment of section 234B.X X X X Extracts X X X X X X X X Extracts X X X X ..... s been made, the assessee shall be liable to pay simple interest at the rate of one per cent. for every month or part of a month comprised in the period commencing on the 1st day of April of such assessment year and ending on the date of making such application, on the additional amount of income-tax referred to in that sub-section. (b) Where as a result of an order of the Settlement Commission un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ount on which interest was payable in respect of shortfall in payment of advance tax for any financial year under sub-section (1) is increased, the assessee shall be liable to pay simple interest at the rate of one per cent. for every month or part of a month comprised in the period commencing on the 1st day of April next following such financial year and ending on the date of the reassessment or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) of section 245C for any assessment year, he shall be liable to pay simple interest at the rate of one per cent. for every month or part of a month comprised in the period commencing on the 1st day of April of such assessment year and ending on the date of making such application, on the additional amount of income-tax referred to in that sub-section; (b) where as a result of an order of the Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee shall be liable for interest at the rate of one per cent. on the amount of the increase in total income for the period commencing from the date of determination of total income under sub-section (1) of section 143 or on regular assessment and ending on the date of reassessment under section 147 or section 153A. It is proposed to amend sub-section (3) of the said section so as to prov ..... X X X X Extracts X X X X X X X X Extracts X X X X
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