Assessments involving assessed income of Rs. 5,000 completed during the financial years 1971-72 to 1973-74.

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.... to time have expressed concern at the failure of the Department to levy interest in accordance with the various provisions of the Income-tax Act. A review was conducted about such failure in respect of assessments involving assessed income of Rs. 5,000 and above completed during the financial years 1971-72 to 1973-74. From the results of the review, it is seen that out of 1.61 lakhs assessments s....