2000 (10) TMI 1 - SCH - Income Tax

Whether, the Tribunal was right in law in holding that interest under section 139(8)/215 levied in the original assessment does not survive when a reassessment is done under section 148 particularly in view of the apex court s decision reported in CIT v Sun Engineering Works P. Ltd. - Matter referred to High Court to rehear the reference.

Summary

The Supreme Court granted special leave in a case where the High Court did not answer a question of law referred to it properly. The High Court was directed to re-hear the reference and provide an answer to the question of law. The judgment of the High Court was set aside.