Interest u/s. 234B and u/s. 234C can be computed only up to the date of regular assessment and not up to the date on which rectification order under section 154 came to be passed

CIT and Anr v Shetron Limited High Court of Karnataka ITA No.79/2006 Decided on: 22 November 2010 Judgment Heard the learned counsel for the revenue and so also the learned counsel for the respondent/assessee. 2. We are concerned with the assessment year 1992-93. For this assessment year, the respondent/assessee had filed returns as early as on 28.12.1992 showing his net income as Rs.21,25,981/- and the tax payable Rs.12,11,809/-. Subsequently, by order dated 27.3.1995 assessment came to be made under section 143(3). By that time, section 34-A(4) came into effect w.e.f. 1.4.19...