Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1998 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1998 (11) TMI 25 - MADRAS HIGH COURTExtract: .......al receipt basis or cash system of accounting in respect of the penal interest, and deleting the addition of penal interest amount of Rs. 27,87,113 in 1979-80 and of Rs. 25,04,368 in 1980-81 as not liable to tax in the hands of the assessee-company. The question referred to us is therefore answered in favour of the Revenue and against the assessee.
|