https://www.taxtmi.com/caselaws?id=8318 The court dismissed the writ petition, ruling that "tax payable" in Section 280ZB refers to the tax due upon regular assessment by the Income-tax Officer. Consequently, the penalty notice and interest demand were deemed valid. The court rejected the claim of natural justice violation regarding the interest demand. The petition was dismissed with costs, and penalty proceedings for the mentioned assessment years were dropped as per the respondents' counsel's statement during the hearing. en-us Fri, 16 Apr 1971 00:00:00 +0530 Thu, 09 Apr 2009 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8318 The court dismissed the writ petition, ruling that "tax payable" in Section 280ZB refers to the tax due upon regular assessment by the Income-tax Officer. Consequently, the penalty notice and interest demand were deemed valid. The court rejected the claim of natural justice violation regarding the interest demand. The petition was dismissed with costs, and penalty proceedings for the mentioned assessment years were dropped as per the respondents' counsel's statement during the hearing. Case-Laws Income Tax Fri, 16 Apr 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8318