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1972 (12) TMI 25 - HC - Income TaxLevy of interest under section 139(8) – treating registered firm as an unregistered one - whether advance tax paid by the registered firm is deductible - The result is that the writ petitions are allowed in part and the petitioners will be entitled to have the advance tax paid by them deducted from the total tax as determined by the respondent for purpose of calculation of interest under section 139(1), proviso. The respondent in each of these cases is directed to modify the assessment accordingly.
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