AO Can Penalize for Unpaid Taxes, But Penalty Cannot Exceed Tax Arrears, Excluding Section 220(2) Interest. https://www.taxtmi.com/highlights?id=35395 AO can impose penalty for default in making the payment of tax, but the same shall not exceed the amount of tax in arrears. Tax in arrears would not include the interest payable u/s 220(2) - HC en-us Tue, 04 Jul 2017 09:02:14 +0530 Tue, 04 Jul 2017 09:02:14 +0530 TaxTMI RSS Generator AO Can Penalize for Unpaid Taxes, But Penalty Cannot Exceed Tax Arrears, Excluding Section 220(2) Interest. https://www.taxtmi.com/highlights?id=35395 AO can impose penalty for default in making the payment of tax, but the same shall not exceed the amount of tax in arrears. Tax in arrears would not include the interest payable u/s 220(2) - HC Highlights Income Tax Tue, 04 Jul 2017 09:02:14 +0530 https://www.taxtmi.com/highlights?id=35395