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2003 (11) TMI 62 - HC - Income TaxInterpretation of section 32AB – Whether the Tribunal was justified in holding that the exclusion of the amount of interest on securities, dividends and rents while making the computation under section 32AB of the Act was in accordance with section 32AB – Held, No - Whether the Tribunal was right in sustaining the action of the Assessing Officer in charging interest under section 216 – Held, no - As the Assessing Officer has not taken note of all the factors that he was required to, we direct the Assessing Officer to examine the question of levy of interest under section 216 of the Income-tax Act afresh and for this purpose we set aside the orders of the Tribunal
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