Civil Procedure Code (CPC)

asessment procedures

This query is : Resolved 

22 December 2009

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))?

Raj Kumar MakkadOnline (Expert)
22 December 2009


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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