Narsingh Ispat Limited Vs Union Of India
Date: March 22, 2022
Subject Matter
Disputed interest liability can be recovered only by initiating proceedings either under Section 73 or 74
Summary
If an Assessee disputes the liability of interest i.e. either disputes its calculation or even the leviability of interest, then the only option left for the Assessing Officer is to initiate proceeding either under Section 73 or 74 of the Act for adj…
Heard learned counsel for the parties. 2. Initially, W.P (T) No. 1261/2020 was preferred by the petitioner. Vide order dated 04.01.2021, petitioner was allowed liberty to assail the respective demands for the Financial Years 2018-19 and 2019-20 in separate writ petitions as the consequential relief relating to challenge of the demand notices relating to Financial Years 2017-18, 2018-19 and 2019-20…