2001 (2) TMI 46 - HC - Income Tax

Summary

The High Court of Punjab and Haryana directed the Income-tax Appellate Tribunal to refer a question regarding adjustments of interest and sales tax penalty made by the Assessing Officer under section 43B of the Income-tax Act, 1961. The Tribunal had earlier held that these adjustments were not prima facie adjustments under section 143(1)(a) of the Act. The High Court allowed the petition and directed the Tribunal to refer the question to the court for consideration.