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2015 (2) TMI 854 - HC - Income TaxRectification of mistake - disallowing the claim for interest paid by the petitioner to the sister concern, in connection with the borrowal of money in the course of transactions when the sister concern of the petitioner has already satisfied the entire tax and there is absolutely no rhyme or reason to have proceeded against the petitioner - Held that:- The remedy available to the petitioner, if at all aggrieved, is by way of section 260A of the Income-tax Act. It is open for the petitioner to pursue such remedy in accordance with law and subject to available or valid and sustainable grounds. So as to enable the petitioner to pursue such exercise, coercive proceedings against the petitioner shall be kept in abeyance for a period of "two weeks", on condition that the petitioner satisfies one-third of the balance liability to be cleared in both the cases, which shall be effected within "one week".
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