SEC 234A

kapil kumar agrawal (Chartered Accountant ) (169 Points)

02 September 2009  

 Dear Friends....

 

As per the provision of Sec 234A of Income TAx Act 1961, interest shall be calculated on the amount of tax determined u/s 143(3)/144/147/153A

 

and it is specifically noted in this section that here sec 147 and 153A  means assessment for the first time on the assessee....

 

I want to know if assessment u/s 143(3) has been done in the case of any assessee then un such case is sec 147 is irrelevant.... why we take 147 only first time......

 

 

and my another question is--

interest u/s 234A is penal in nature or compensatory in nature because in DR. Pronnoy Case it was held that this is compensatory in nature please guide me....