1990 (1) TMI 109 - AT - Income Tax

Summary

The ITAT Chandigarh allowed the assessee's appeals against the AAC's order for asst. yrs. 1982-83 and 1983-84. The ITO's disallowance of interest under s. 40(b) during reassessment was deemed untenable as it violated principles of natural justice and was a change of opinion without issuing a notice. The appeals were allowed, and the interest charged for those years was deleted. (Case citation: 1990 (1) TMI 109 - ITAT CHANDIGARH)