1995 (3) TMI 83 - HC - Income Tax

Advance Tax, Income Tax, Power Of Rectification, Stay Of Collection Of Tax, Tax Authorities, Waiver Of Interest

Summary

The High Court of Kerala ruled in favor of the petitioners, partnership-firms conducting abkari business, regarding waiver of interest under sections 234A and 234B of the Income-tax Act. The court quashed exhibit P-5 and directed the Central Board of Direct Taxes to decide on exhibit P-1 representation promptly. Exhibits P-2 to P-4 will remain in effect until then.