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However, principles of natural justice have to be read in the provision, Asst. Year 2004-05 meaning thereby that assessee is given an opportunity of being heard before levy of interest. In an earlier decision in Canoi Industries (P) Ltd. vs. ACIT (2003) 261 ITR 488 Hon. Calcutta High Court had held that chargeable of interest u/s 201(1A) is mandatory and automatic. Similar view was held by Hon. Madras High Court in Viswapriya Finance General Securities Ltd. vs. CIT (2002) 258 ITR 496 (Mad).