1998 (2) TMI 118 - HC - Income Tax

Summary

The High Court of Calcutta ruled in favor of the assessee in a case involving interest under section 215 of the Income-tax Act, 1961. The assessee had paid more tax than the tax assessed in the regular assessment, so interest could not be charged on the reassessment made under section 147. The judgment was agreed upon by Judges Bijitendra Mohan Mitra and Y. R. Meena.