Failure to comply with Section 156 demand notice makes Assessee liable for interest for belated period

Ravikumar Dhandhania Vs ITO (Madras High Court) The petitioner seeks waiver of Section 220(2A) interest under on account of the fact that the petitioner has paid the tax and the interest under Sections 234A, 234B & 234C of the Income Tax Act, 1961. Sub Section (2A) to of Section 220(2A) is an exception to Sub Section (1). The facts of the case are not in dispute. The petitioner had made an incorrect declaration in his Income Tax Returns for the Assessment Year 2007-2008 and thus, the assessment was sought to be reopened on 31.03.2014. An Assessment Order dated 30.01.2015 came to be passed...