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2011 (6) TMI 565 - HC - Income TaxWrit petition - revision petition - application for waiver of interest charged under Section 234B of the Income Tax Act - company had received income by way of interest on term deposits from banks. In the return filed by the assessee, it was claimed that the interest earned is on borrowed funds and is not assessable to tax. Ext.P1 is the copy of the assessment order which was challenged in the revision petition. Finally it was held in Ext.P3 that the assessee has not made out a case for waiver of interest charged under Section 234B and the revision petition was dismissed, writ petition is dismissed
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