https://www.taxtmi.com/caselaws?id=8834 Section 46 of the Finance (No. 2) Act, 1967 deems unpaid tax on voluntarily disclosed income to be tax due from the declarant from the day after expiry of the payment period under section 156 of the Income-tax Act. By applying Chapter XVII-D, including section 220(2), the provision makes simple interest for default consequential from that deemed date. Its prospective commencement from 1 April 1967 does not restrict interest to defaults occurring after that date, because the legal fiction attaches statutory consequences to the earlier unpaid tax liability. Accordingly, interest may be levied for the period before 1 April 1967. en-us Tue, 05 Dec 1972 00:00:00 +0530 Tue, 16 Jun 2009 11:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8834 Section 46 of the Finance (No. 2) Act, 1967 deems unpaid tax on voluntarily disclosed income to be tax due from the declarant from the day after expiry of the payment period under section 156 of the Income-tax Act. By applying Chapter XVII-D, including section 220(2), the provision makes simple interest for default consequential from that deemed date. Its prospective commencement from 1 April 1967 does not restrict interest to defaults occurring after that date, because the legal fiction attaches statutory consequences to the earlier unpaid tax liability. Accordingly, interest may be levied for the period before 1 April 1967. Case-Laws Income Tax Tue, 05 Dec 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8834