2001 (8) TMI 979 - AT - Income Tax

Summary

The Appellate Tribunal ITAT Ahmedabad dismissed the Revenue's appeal regarding interest charged under sections 234A, 234B, and 234C of the Income-tax Act, 1961. The Tribunal upheld the CIT(A)'s decision as the appellant had declared seized income and requested it to be adjusted against tax liability, which the Department failed to do in a timely manner. The interest charges were deemed unjustified. The appeal was dismissed.