1985 (7) TMI 80 - HC - Income Tax

Summary

The High Court of Calcutta ruled in favor of the assessee, M/s. Koomsong Tea Co. Ltd., in a case involving the deduction of a voluntary payment of Rs. 3 lakhs made towards advance tax. The court held that the amount should be deducted from the total tax payable for the purpose of computing interest. The Income-tax Appellate Tribunal's decision was upheld, and the Revenue's appeal was dismissed. The Court found no justification for the Income Tax Officer's decision to charge interest on the advance tax payment.