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2017 (7) TMI 107 - BOMBAY HIGH COURTCharging of interest for the period of delay attributable to the revenue in supplying copies of accounts and relevant record and statements - Held that:- As from the date Section 158BFA has been incorporated in Section 119(2)(a) i.e. with effect from 01.06.2002, the proper remedy would be to apply the circulars/instructions issued by the Board relaxing the circumstances in which the interest payable under the said section could be relaxed. However, in the present case we are concerned for the period prior to June 2002, as the return of income was filed on 26.02.2002. At that time Section 158BFA of the Act was not a part of Section 119(2)(a) of the Act. Therefore, no occasion for the C.B.D.T. to give instructions to liberalise the rigour of Section 158BFA of the Act in respect of interest could arise. Question of law posed for our consideration is answered in the negative i.e. in favour of the appellant-assessee and against the revenue. Although the question as admitted questions the justifiability of the Tribunal in charging interest for the delay attributable in not supplying the copies of accounts and relevant record and statements, the words "copies of account and relevant record and statements" would also include within it, giving inspection of the accounts and relevant record and statements. Therefore, the interest for the delay in filing the return of income in this case has to be computed after excluding the period from the date the inspection was asked for i.e. 24.05.2001 till the inspection was given i.e. 03.01.2002. The Assessing Officer to work out the exact demand for interest in the above terms.
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