805/CBDT.

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Full Text of the Document

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....x Rules, 1962. According to Rule 118(1), ITO is under an obligation to calculate interest under sub-section (2) of Section 220 at the end of each financial year if the amount of tax, penalty or other sum in respect of which such interest is payable has not been paid in full before the end of any such financial year, and issue notice of demand under section 156 to the assessees in respect of the sa....