1998 (12) TMI 58 - HC - Income Tax

Summary

The petitioner sought settlement of income tax cases for assessment years 1985-86 to 1988-89. Second respondent passed exhibit P-2 order, followed by exhibit P-3 order for interest under sections 139(8) and 215/217 of the Income-tax Act. Petitioner's representation for modification of interest was rejected. Court upheld the orders, stating interest for different lapses is permissible. Original petition was dismissed.