1995 (3) TMI 57 - HC - Income Tax

Summary

The High Court of Rajasthan ruled in favor of the assessee, stating that the Income-tax Appellate Tribunal was justified in not upholding the interest charged by the Income-tax Officer under sections 139(8) and 217 of the Income-tax Act, 1961. The judgment referenced previous decisions to support this conclusion. The reference was answered in favor of the assessee with no order as to costs.