1985 (2) TMI 242

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..... ad, relating to the assessment year 1975-76. The assessee deals in crucibles. The account books of the assessee were rejected and best judgment assessment was passed. It is pertinent to mention that the assessee had deposited the admitted tax at 3.5 per cent whereas the tax was imposed by the assessing authority at the rate of 7 per cent, as such the demand for payment of interest was also made f .....

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..... the assessee was not liable to pay interest. After hearing learned counsel for the parties I am of the opinion that there have been no finding by the Tribunal that the assessee acted mala fide in not depositing the tax at the rate of 7 per cent. The demand of interest was not justified. Since the Sales Tax Officer himself has been making assessment and determining the tax at the rate of 3.5 per c .....

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