1979 (11) TMI 170

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..... has given the reason as to why he had upheld the levy of interest charged by the ITO. 3. The assessee is assessed in the status of ITO individual. It was stated before the ITO that the assessee returned income of Rs. 7,310 as he was a partner in a firm which had declared income at Rs. 14,630. The ITO however, computed the said income from the firm at Rs. 37,123. The ITO charged interest under s .....

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..... of the Act. Shri Shrivastava relied on the order of the Nagpur Bench in ITA. No. 413 (Nag)/1977-78 for asst. yr. 1974-75 (to which I am a party). However, it may further be stated that the Tribunal followed with respect the decision of the Bombay High Court reported at 108 ITR 961. Accordingly, I hold that the assessee should succeed in this appeal. The appeal is allowed. - - TaxTMI - TMITax .....

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