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2005 (1) TMI 31 - HC - Income TaxInterest – accrual - "Whether Tribunal was justified in deleting addition of Rs. 35,250 made by the Income-tax Officer on account of accrued interest?" - In the absence of any finding that waiver of interest was actuated by any other consideration other than the business expediency on the totality of the facts of the case, the view taken by the Tribunal is legally correct. Therefore the finding of the Tribunal that even if the assessee is maintaining the accounts in the mercantile system, the interest did not accrue to it, is on terra firma. We find no illegality in the order of the Tribunal.
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