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of <h1>High Court dismisses petition under Income-tax Act; Tribunal's decision upheld on interest cancellation and seized cash adjustment.</h1> The High Court dismissed a petition under section 256 of the Income-tax Act, 1961, as no referable question of law was identified. The Tribunal's decision ... - The High Court dismissed a petition under section 256 of the Income-tax Act, 1961, stating that no referable question of law arises in the case. The Tribunal was right in canceling interest charged under section 215 and adjusting the seized cash towards advance tax. The petition was dismissed as the Tribunal's findings were found to be correct.
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