1977 (4) TMI 45 - AT - Income Tax

Summary

The appeal was filed by the assessee against the AAC of Income-tax's order regarding the omission to charge interest under s. 217(A) IT Act. The assessment year was 1971-72, and the ITO later directed interest to be charged under s. 154(1)(a) IT Act. The assessee argued that the failure to complete the assessment within a year was not its fault, leading to the waiver of interest. The ITAT Ahmedabad-A agreed with the assessee, and the appeal was allowed.