https://www.taxtmi.com/caselaws?id=155047 Interest under section 234A is compensatory, not penal, and its levy cannot continue beyond the date on which self-assessment tax is paid if that tax is paid before the return is filed. On those facts, a rectification petition under section 154 was maintainable because the recomputation of interest exceeded what the law permitted and disclosed a mistake apparent from the record. The first appellate order was set aside and the Assessing Officer was directed to rectify the interest computation accordingly. en-us Thu, 21 Apr 2011 00:00:00 +0530 Sat, 31 Aug 2013 11:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=155047 Interest under section 234A is compensatory, not penal, and its levy cannot continue beyond the date on which self-assessment tax is paid if that tax is paid before the return is filed. On those facts, a rectification petition under section 154 was maintainable because the recomputation of interest exceeded what the law permitted and disclosed a mistake apparent from the record. The first appellate order was set aside and the Assessing Officer was directed to rectify the interest computation accordingly. Case-Laws Income Tax Thu, 21 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=155047