https://www.taxtmi.com/caselaws?id=201653 The court upheld the levy of interest under section 234B(3) in the second revision of assessment under section 147 for the assessment year 1999-2000, despite the omission to levy it in the first revision. The court ruled that interest under section 234B(3) can be imposed in reassessments completed under section 147, regardless of whether it was levied in the original assessment. The appellant's argument that interest cannot be levied without being imposed in the first revision was rejected, emphasizing that interest under section 234B(3) is based on the increase in the short-fall of advance tax compared to the original assessment. en-us Wed, 02 Dec 2009 00:00:00 +0530 Wed, 02 Jan 2013 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201653 The court upheld the levy of interest under section 234B(3) in the second revision of assessment under section 147 for the assessment year 1999-2000, despite the omission to levy it in the first revision. The court ruled that interest under section 234B(3) can be imposed in reassessments completed under section 147, regardless of whether it was levied in the original assessment. The appellant's argument that interest cannot be levied without being imposed in the first revision was rejected, emphasizing that interest under section 234B(3) is based on the increase in the short-fall of advance tax compared to the original assessment. Case-Laws Income Tax Wed, 02 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201653