Delhi High Court Upholds ITAT Decision on Income Tax Interest Appeal

The High Court of Delhi dismissed the Revenue's appeal on interest levied under Section 234-B of the Income Tax Act, 1961, citing a previous ruling in favor of the assessee. The decision upheld the ITAT's decision and stated that parties will be bound by the Supreme Court's ruling in pending appeals.

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The High Court of Delhi dismissed the Revenue's appeal regarding interest levied under Section 234-B of the Income Tax Act, 1961. The decision was based on a previous ruling in favor of the assessee, citing the case 'Director of Income-Tax vs. GE Packaged Power Inc.' The Court stated that the ITAT did not err in following the previous order. The parties will be bound by the Supreme Court's ruling in pending appeals.

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