Interest u/s 220(2)
This query is : Resolved
21 March 2009
Interest u/s 220(2) of the I.T.Act can be levy in the case of Asst. made u/s 158BC i.e. Block Assessment ?
If yes which will be effective date calculation of interest
1. date of Assessment order
2. date of CIT (A) Order
3. date of ITAT Order
If no, kindly advice me according to which Notification / Circular interest u/s 220(2) can not be levy in the case of Block Assessment
Please advice me at an earliest as its very urgent
With Regards
Interest u/s 220(2) of the I.T.Act can be levy in the case of Asst. made u/s 158BC i.e. Block Assessment ?
If yes which will be effective date calculation of interest
1. date of Assessment order
2. date of CIT (A) Order
3. date of ITAT Order
If no, kindly advice me according to which Notification / Circular interest u/s 220(2) can not be levy in the case of Block Assessment
Please advice me at an earliest as its very urgent
With Regards
22 March 2009
Intrest is payable starting from 30 day from the date of notice issued under S 156.
23 March 2009
Thanks
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