Allowing the appeal of the assessee ,the Tribunal held that ; assessee’s failure to pay self-assessment tax within stipulated period, in view of fact that amended section 140A(3) with effect from 1-4-1989 levy of penalty was held to be not justified . ( AY. 2009 -10)( AY.2009-10)
Heddle Knowledge (P.) Ltd. v. ITO (2018) 169 ITD 304/ 169 DTR 396/ 195 TTJ 536 (Mum) (Trib.)
S. 234B : Interest – Advance tax -Book profit- In view of Explanation 1(v) of sub-section (1) of S. 234B, MAT credit has to be allowed from ‘assessed tax’ and, thereafter, interest to be computed [