An assessee having taxable income and did not file his return. But filed his return within time given in notice u/s 153C. Assessment was completed and tax was determined. Now is the assessee liable to pay interest u/s 234A from the due date u/s139(1) or not. Please clarify
I think Interest is chargeable u/s 234A...and even iu/s 234B and 234C(if applicable)...because the general rule says that interest is automatic in nature.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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