1979 (3) TMI 101 - AT - Income Tax

Summary

The ITAT MADRAS-A dismissed the departmental appeal for the asst. yr. 1973-74, confirming the assessee's entitlement to deduction under s. 35B for Tokyo branch. The appeal was also rejected regarding the liability to interest under s. 139(8) as the advance tax payment should be given credit before levying interest. The decision was based on a previous Tribunal order and the interpretation of "advance tax" as tax paid before assessment.