“Section 282(1)(b)”

Section 14A of the Income-tax Act is not applicable to insurance businesses governed by specific provisions of Section 44 and Schedule 1. Profit on sale of investments by insurance companies is not taxable, especially after the deletion of sub-rule (b) of Rule 5 of the First Schedule.

A notice issued under section 34 of the Income-tax Act, 1922, that is not signed by the Income Tax Officer is invalid and considered no notice at all, as the signature is an essential and integral part of the notice.

Interest is allowable under Section 244A(1)(b) on self-assessment tax paid, as it falls under the residuary clause for refunds not covered by other specific categories.

For an assessee to be considered in default, a notice must be served in one of the modes provided by the Income Tax Act. Acquiring knowledge of a notice's issuance is not a substitute for proper service.

Service of notice at a place other than the assessee's registered address violates assessment procedure and renders the notice invalid.