Interest under wealth-tax rules not chargeable on self-assessment tax paid before the return filing due date. The Board directs that interest under the Wealth-tax Act shall not be chargeable on amounts of self-assessment tax paid by an assessee before the due date for filing the return of net wealth, aligning the administrative position with the reasoning applied by the Supreme Court to analogous income-tax interest provisions.
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Provisions expressly mentioned in the judgment/order text.
Interest under wealth-tax rules not chargeable on self-assessment tax paid before the return filing due date.
The Board directs that interest under the Wealth-tax Act shall not be chargeable on amounts of self-assessment tax paid by an assessee before the due date for filing the return of net wealth, aligning the administrative position with the reasoning applied by the Supreme Court to analogous income-tax interest provisions.
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