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

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....6 in Volume II of I.T. Circulars from 1st April, 1922 to 31st 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 whi....