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2007 (5) TMI 365 - AT - Income TaxExtract: .......verdue interest tax is in the nature of the compensation for the damages caused to the assessee due to the delayed payments and thus the issue is squarely covered by the above decisions. In this view of the matter, we quash the order of the Assessing Officer and allow assessee rsquo s appeals. 8. In the result, assessee rsquo s appeals are allowed.
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