1989 (4) TMI 23 - HC - Income Tax

Summary

The High Court of Gauhati addressed two questions of law regarding interest charged under section 139(8) of the Income-tax Act for the assessment year 1974-75. The court ruled that the Appellate Assistant Commissioner and the Tribunal erred in confirming the interest charge. The court also held that no interest was justified when the tax payable by the registered firm was nil. The judgment was delivered by Judges J. M. Srivastava and B. L. Hansaria.