1983 (5) TMI 81 - AT - Wealth-tax

Summary

The appeals by the revenue for the assessment years 1975-76 and 1976-77 were dismissed by the ITAT Jaipur. The AAC allowed the assessee's claim for interest on refunds resulting from the cancellation of assessment orders under section 34A (3A) of the Wealth-tax Act, 1957. The Tribunal upheld the AAC's decision based on a similar case precedent.