Case Law Details
Case Name : Commissioner of Income-tax Vs Chika Overseas (P.) Ltd. (Bombay High Court)
Related Assessment Year :
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All High Courts Bombay High Court
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HIGH COURT OF BOMBAY
Commissioner of Income-tax
V/s.
Chika Overseas (P.) Ltd.
IT Appeal No. 3737 of 2010
November 18, 2011
JUDGMENT
J.D. Devadhar, J.
Whether the ITAT was justified in holding that the assessee was liable to pay interest u/s.220(2) of the Income Tax Act, 1961 (‘the Act’ for short) after thirty days from the service of the fresh demand notice dated 24/12/2006 pursuant to the fresh assessment order passed under Section 143(3) of the Act, is the question raised in this appeal.
2. The assessment year involved herein is AY 1994-95.
3. Initially, by an as...
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According to sec 156 a demand notice is given, in which interest under 220 (2) is calculated,but the amount in demand notice is aggregate of tax liability and interest under section 234 b,,,so my question is whether interest u/s 220(2) should be calculated on tax liability amount or tax liability amount plus interest u/s 234 b ( i.e,,demand amount) … if we calculate on demand amount it will be like calculating interest on interest…..