Law:

Section:

Section 215 of the Income-tax Act, 1961 - Advance-tax - Interest payable by assessee - Assessment year 1981-82 - Assessee, who had adopted calendar year as its accounting period, was required to pay last instalment of advance tax on or before 15-12-1980 - However, it was paid on 13-3-1981 - Accordingly, demand of interest under section 215 was raised - Whether in view of fact that Department itself had been treating said payment made on 13-3-1981 as a part of advance tax paid during financial year in all demand notices issued earlier, demand of interest in question was not sustainable and liable to be quashed - Held, yes Section 220 of the Income-tax Act, 1961 - Collection and recovery of tax - When tax payable and when assessee deemed in default - Assessment year 1981-82 - Notice of demand was issued on 21-9-1984 after passing of original assessment order - On appeal, Commissioner (Appeals) reduced assessable income - However, Tribunal reversed order of Commissioner (Appeals) - Pursuant thereto demand of interest under section 220(2) was raised - Whether first notice of demand dated 21-9-1984 issued after original assessment order passed by ITO could not be deemed to have been extinguished by virtue of appeal having been filed before Commissioner (Appeals) or conditional stay of operation of assessment having been allowed by Commissioner (Appeals) pending disposal of appeal before him or by virtue of subsequent reduction of taxable income - Held, yes - Whether under order of Tribunal which had attained finality, original assessment had been restored with result that first demand notice which, at most, lay in abeyance or suspension stood revived and there being non-compliance with that notice of demand, interest under section 220(2) was rightly charged - Held, yes Section 246 of the Income-tax Act, 1961 - Commissioner (Appeals) - Appealable orders - Assessment year 1981-82 - Whether no appeal is provided under section 246 against notice of demand issued under section 156 - Held, yes FACTS The assessee-company had adopted the calendar year ending on December 31 as its accounting year. As per schedule fixed by section 211, the advance-tax was payable in three…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492