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2008 (2) TMI 414 - CALCUTTA HIGH COURTTax on interest u/s 12A of the Interest tax Act, 1974 - The Commissioner of Income-tax invoking section 19 of the Act cancelled the assessment made by the Assessing Officer and directed the Assessing Officer to levy interest-tax treating the assessee as financial institution - learned Tribunal dealt with the matter extensively and thereafter came to the conclusion that the assessee does not fall under the definition of section 2(58)(iv) of the Act and, therefore, the assessee is not liable for interest-tax as levied by the Department – Held that - We do not find any reason to interfere with the order so passed by the learned Tribunal nor the order so passed by the learned Tribunal suffers from any legal infirmity nor we find that any substantial question of law is involved in this appeal – revenue appeal dismissed.
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