https://www.taxtmi.com/caselaws?id=211716 Mandatory interest under sections 234A, 234B and 234C of the Income-tax Act remains chargeable to a notified person under the Special Court (Trial of Offences relating to Transactions in Securities) Act, because the Special Court Act regulates only the custody, priority and distribution of attached assets and does not alter liability to statutory interest. The expression "tax" in section 11(2)(a) does not include interest, section 11(2)(c) concerns the Special Court's discretion over payment from surplus funds, and the overriding clause in section 13 does not displace the interest provisions of the Income-tax Act. Relief, if any, lies in the waiver or reduction mechanism under the taxing law. en-us Wed, 07 Mar 2012 00:00:00 +0530 Tue, 03 Apr 2012 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211716 Mandatory interest under sections 234A, 234B and 234C of the Income-tax Act remains chargeable to a notified person under the Special Court (Trial of Offences relating to Transactions in Securities) Act, because the Special Court Act regulates only the custody, priority and distribution of attached assets and does not alter liability to statutory interest. The expression "tax" in section 11(2)(a) does not include interest, section 11(2)(c) concerns the Special Court's discretion over payment from surplus funds, and the overriding clause in section 13 does not displace the interest provisions of the Income-tax Act. Relief, if any, lies in the waiver or reduction mechanism under the taxing law. Case-Laws Income Tax Wed, 07 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211716