1999 (1) TMI 5 - HC - Income Tax

Summary

The High Court of Madras issued a writ of certiorarified mandamus to review records related to an income tax assessment. The petitioner, a company, claimed interest as allowable expenditure based on bank's decision to charge interest for earlier years. The court remanded the case back to the Commissioner to consider the bank's letter and set aside the finding that the petitions were out of time. The impugned order was quashed, and the writ petitions were allowed with no costs.