777/CBDT.

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....nt raised demands on completion of provisional assessment of an Indian company. The assessee did not pay the demand within the stipulated period, and became liable to levy of interest amounting to Rs.1,03,724. This interest was not levied". 2. Subsequent enquiries have shown that the provisional demand was actually paid by the company. However, Revenue Audit could not trace the payments made to....

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....ade by him. He does not seem to have made any enquiries from the ITO (Collection) or referred to the relevant registers for checking whether or not the assessee had made any payments against provisional tax demands). 3. Though section 141 relating to provisional assessment has been omitted by Taxation Laws (Amendment) Act, 1970 with effect from 1.4.71, the objections may equally apply to all th....