COLLECTOR OF INCOME TAX Vs. HINDUSTAN BULK CARRIERS

JUDGEMENT

(1.) I have gone through the judgments rendered by Brother Pasayat, J. and Brother Dharmadhikari, J. I agree with the views expressed in those judgments. However, for clarifying the position with regard to payment of interest I would like to add as under :

(2.) Other requirements are that no such application could be made unless

(3.) The other relevant requirement which has a bearing on the question involved in these appeals is sub-section (1A) of section 245C, which provides that the additional amount of income-tax payable in respect of the income disclosed in an application should be the amount calculated in accordance with the provisions of sub-sections (1B) to (1D).