2011 (1) TMI 1111

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.....   J U D G M E N T   Ramachandran Nair, J.   Heard Shri.T.M.Sreedharan, learned counsel appearing for the assessee, and learned Standing Counsel appearing for the respondent.   2. The first question raised pertains to the assessee's status in which it is assessed that is as an AOP, against the claim of the assessee that it is a partnership firm. However, it is seen that pho .....

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..... v. Commissioner of Income Tax, reported in 2008(3) KLT 813. In view of the failures covered by Section 144, which are established beyond doubt, we do not think the assessee is entitled to be assigned in the status of a firm. Consequently, we reject this claim.   3. The next ground pertains to the addition of Rs.3,07,159/- sustained by the Tribunal. After going through the orders of the Tribu .....

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..... rder of the Tribunal in refixing the unexplained expenditure sustained as income.   Learned counsel appearing for the assessee brought to our notice that huge amount was demanded as interest payable under various provisions of the Act. It is for the assessee to bring the same to the notice of concerned authorities for waiver of interest or even challenge the interest, if levy is not permissi .....

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