Thursday 24 September 2015

Interest can't be levied for the period during which application is pending before Set Com

IT : Where assessee applied under section 245D(1) to Settlement Commission and deposited admitted tax and satisfied tax liability finally determined within time, recovery of interest from assessee under section 220(2) in terms of section 245D(2C) for period during pendency of application before Settlement Commission was unwarranted

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