Held that the provisions of section 220(2) are applicable only where amount specified in notice of demand issued under section 156 is not paid within stipulated period. Where no order or notice of demand was ever issued for relevant assessment year, assessee would not have any liability with regard to levy of interest under section 220(2). (AY. 2012-13 to 2019-20)
Great Eastern Shipping Co. Ltd. v. Dy.CIT (2025) 210 ITD 501 (Mum) (Trib.)
S. 220 : Collection and recovery-Assessee deemed in default-No order or notice of demand was issued-Not liable to pay interest. [S.156, 220(2)]
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