1984 (2) TMI 137 - AT - Income Tax

Summary

The Appellate Tribunal ITAT CALCUTTA-B ruled in favor of the assessee regarding the charging of interest under section 215 of the Income-tax Act, 1961. The tribunal found that there was no shortfall of payment of advance tax and interest under section 215 was not leviable. The appeal by the revenue was dismissed, and the cross-objections of the assessee were allowed.