Interest on protective assessments should be recalculated where original tax payment is treated as payment for the protective assessment. Tax paid by a beneficiary on income protectively assessed in the representative should be treated as payment on the original payment date for the protective assessment; interest under section 220(2) must be recomputed accordingly. Recomputation requires the concerned persons to seek adjustment and the original payer to expressly forgo any claim to departmental interest. This position is limited to representative assessee/beneficiary and HUF/individual situations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest on protective assessments should be recalculated where original tax payment is treated as payment for the protective assessment.
Tax paid by a beneficiary on income protectively assessed in the representative should be treated as payment on the original payment date for the protective assessment; interest under section 220(2) must be recomputed accordingly. Recomputation requires the concerned persons to seek adjustment and the original payer to expressly forgo any claim to departmental interest. This position is limited to representative assessee/beneficiary and HUF/individual situations.
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