asessment procedures

dasd (Querist) 22 December 2009 This query is : Resolved
139(1A) & 139(1B) operational today also?difference when we say int is compensatory in nature(234A(1)) & int is penal in nature (234B(1))?

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Raj Kumar Makkad (Expert) 22 December 2009
So???????????/

soumitra basu (Expert) 23 December 2009
Interest under section 234A, 234B and 234C are compensatory nature.

Vineet (Expert) 23 December 2009
Agree with Mr Basu. In fact all interest charged under the Act including 220(2) are mandatory and compensatory in nature. Charging of such interest does not require any opportunity to the assessee.

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