The imposition of penal interest u/s 18A(6).

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Full Text of the Document

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.... March 1955) wherein it was clarified that if the rates of Income-tax in the Finance Act of the year in which the regular assessment was made were lower than the rates in the preceding year, the imposition of penal interest u/s 18A(6) with reference to higher amount calculated at the rates prescribed by the Finance Act in the year in which advance tax was paid would be justified in view of words "....