Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2008 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (7) TMI 390 - HC - Income TaxInterest for non deposit of advance tax – debatable addition – held that - Tribunal has observed in its order that the liability for charging interest u/s 215 arose due to addition in total income declared by the assessee and due to acceptance of differences regarding status of the assessee. The Tribunal has further observed, the additions made in the assessment order by the AO were highly debatable and the same were not foreseen at the time of filing the estimate of advance-tax. At the same time, it cannot also be denied the fact that the assessee was under a bona fide belief that its status of a company in which public are substantially interested would be accepted.
|