https://www.taxtmi.com/caselaws?id=65204 The Tribunal ruled in favor of the assessee, canceling the interest charged under Section 201(1A) of the Income Tax Act, 1961. The notification extending the IT Act, 1961 was deemed applicable from the assessment year 1984-85, not for 1983-84. The Tribunal upheld the assessee's claim that the payment made for 1983-84 should be considered for the liability of 1984-85. The Tribunal acknowledged the bona fides of the assessee in making the payment, allowing the appeal and dismissing the Departmental appeal. en-us Fri, 13 May 1994 00:00:00 +0530 Mon, 14 Feb 2011 11:55:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65204 The Tribunal ruled in favor of the assessee, canceling the interest charged under Section 201(1A) of the Income Tax Act, 1961. The notification extending the IT Act, 1961 was deemed applicable from the assessment year 1984-85, not for 1983-84. The Tribunal upheld the assessee's claim that the payment made for 1983-84 should be considered for the liability of 1984-85. The Tribunal acknowledged the bona fides of the assessee in making the payment, allowing the appeal and dismissing the Departmental appeal. Case-Laws Income Tax Fri, 13 May 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65204