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Income Tax - Highlights / Catch Notes

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Levy of Interest u/s 158BFA(1) - Block assessment u/s 158BD - in ...


Notice u/s 158BD Sufficient for Block Assessments; Delay in Filing Invokes Interest u/s 158BFA(1.

January 15, 2023

Case Laws     Income Tax     SC

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

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