1997 (12) TMI 159

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....The assessment was completed under section 143(3) on 3-3-1994. The Assessing officer levied interest under section 234-B upto 3-3-1994 which is the date of regular assessment under section 143(3) of the Act. The assessee by letter dated 15-4-1994 requested the Assessing Officer to levy such interest only upto the date of intimation under section 143(1)(a) of the Act and not upto the date of assessment under section 143(3) of the Act. The Assessing Officer rejected the plea of the assessee. The matter was taken up in appeal. The learned Dy. CIT(A) following the order of the Tribunal in the case of ITO v. V.S. Madasamy [I.T. Appeal No. 1723 (Mad.) of 1993] for the assessment year 1990-91 decided the issue in favour of the assessee. The Revenu....

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....e date of determination of total income under sub-section (1) of section 143 and where a regular assessment is made, to the date of such regular assessment, on an amount equal to the assessed tax or, as the case may be, on the amount by which the advance tax paid as aforesaid falls short of the assessed tax." Section 234B was inserted by the Taxation Laws (Amendment) Act, 1987 with effect from 1-4-1989. The section was amended by the Direct Tax Laws (Amendment) Act, 1989 with effect from 1-4-1989. In the section, as originally enacted, interest was to be charged "from 1st day of April next following such financial year", "to the date of regular assessment". The words "to the date of regular assessment" were substituted by the words "to t....