Interest on tax shortfall: compute up to payment, then on advance-tax-related shortfall thereafter. The substituted provision mandates a two-stage interest computation where interest is calculated up to the date of a pre-assessment payment, and thereafter at the same rate only on the amount by which the tax paid (insofar as it relates to income subject to advance tax) falls short of the assessed tax.
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Provisions expressly mentioned in the judgment/order text.
Interest on tax shortfall: compute up to payment, then on advance-tax-related shortfall thereafter.
The substituted provision mandates a two-stage interest computation where interest is calculated up to the date of a pre-assessment payment, and thereafter at the same rate only on the amount by which the tax paid (insofar as it relates to income subject to advance tax) falls short of the assessed tax.
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