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2008 (10) TMI 12 - SC - Income TaxModification in terms of payment - interest charged on deferred sale consideration from 1.7.1979 instead of 1.3.1977 – held that under the changed mode of payment adopted under the Resolution dt. 30.6.1978, no interest was to accrue during the Accounting period from 1.7.1978 up to 30.6.1979 - HC hold that the Resolution could not be given any retrospective effect so as to facilitate evasion of tax liability that had already arisen for A.Y. 1979-80 - penalty u/s 273(2)(a) rightly set aside by HC
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