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1973 (9) TMI 14 - HC - Income TaxWhether the assessee is liable for interest as provided by section 215 (1) of the Income-tax Act, 1961 - Whether provisions of section 263 can be invoked when there is failure to charge interest under section 215 - " (1) Whether the presumption made by the Appellate Tribunal that the Income-tax Officer had exercised his discretion and decided not to levy the penal interest u/s 215 of the Income-tax Act, 1961, is supported by any material ? (2) Whether Tribunal was right in law in holding that the Commissioner of Income-tax was not justified in modifying the assessment order of the Income-tax Officer u/s 263 of the Income-tax Act, 1961 ? "we have to answer question No. 1 in the negative that no material has been relied on by the Tribunal for the presumption it had drawn - second question referred to us has to be answered also in the negative, that is in favour of the department and against the assessee
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