No interest u/s 234B during Block Assessment

Brief of the case In the Case of ACIT v Akhil Jain, ITAT Delhi held that no interest will be levied u/s 234B during the Block Assessment by the virtue of Section 158BF. Facts of the Case In the present facts of the Case, the Settlement Commission passed an order dated 31.03.2011 u/s 245D(4). The Assessing Officer passed an order u/s 158BC/245D(4) on 04.05.2011 determining income at Rs.8,21,000/- and raised a demand of Rs.60,548/-. The demand raised was duly paid by the assessee. Subsequently, a notice u/s 154 was issued to the assessee proposing to charge interest u/s 234B of the Act. In respo...