2001 (1) TMI 212 - AT - Income Tax

Summary

The Department appealed against the CIT(A) order deleting interest charged under ss. 234A and 234B for asst. yr. 1996-97. The Tribunal upheld the CIT(A) decision based on Supreme Court and Patna High Court rulings, stating interest can only be charged on returned income, not assessed income. Appeal dismissed.