1988 (8) TMI 52

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..... ly: "Whether, on the facts and in the circumstances of the case, the Tribunal was legally justified in holding that no interest under section 139(8) is chargeable treating the firm as an unregistered firm in a case where no tax is payable by the firm as a registered firm, while Explanation (2) to sub-section (8) of section 139 clearly speaks of determination of tax payable treating the firm as a .....

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..... anesh Dass Sreeram v. ITO [1988] 169 ITR 221. It was held by the Supreme Court that where the advance tax covers the entire amount of tax assessed by the Income-tax Officer under the Income-tax Act, there is no question of charging the registered firm with interest even though the return is filed by it beyond the time allowed. Following this decision, it is held that the Tribunal's view to the sam .....

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