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2004 (5) TMI 37 - HC - Income TaxPrayer for waiver of interest on the penalty imposed - It appears to us that it could not be said that during the period November 17, 1988, to October 25, 1995, there was any outstanding demand for penalty against the assessee and, therefore, it could not be said that there was a default in payment of penalty making it liable for the interest during that period. - We, therefore, allow this writ petition in part and quash the demand for interest on the penalty for the period November 17,1988, to October 25,1995. We hold that the assessee would be liable for interest on the penalty imposed for the period prior to November 17, 1988, and for the period subsequent to October 25,1995, until the recovery of penalty
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