2006 (1) TMI 640

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..... appeal is filed under Section 260A of the Income-tax Act, 1961 (for short referred to as 'the Act') challenging the order passed by the Income-tax Appellate Tribunal in ITA No. 580/Bang/2003 dated 27th October 2004 where the levy of interest under Section 234B was set aside. 2. In coming to the said conclusion the Tribunal has followed the judgment of a Division Bench of this Court in the case o .....

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..... ally made applicable. Since the entire exercise of computing the income or that of book profit could be only at the end of the financial year, the provisions of Section 207, 208, 209 or 210 cannot be made applicable, until and unless the accounts are audited and the balance sheet is prepared even the assessee may not know whether the provisions of Section 115J would be applicable or not. The liabi .....

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