https://www.taxtmi.com/caselaws?id=68554 The Tribunal held that interest under s. 17B of the Wealth Tax Act should only be charged on the amount of tax remaining outstanding after the due date for filing the return, not on the total tax payable. Consequently, the rejection of the assessee's rectification petition was deemed unjust, and the Tribunal directed the Assessing Officer to modify the orders in favor of the assessee, allowing all three appeals. The decision clarified the interpretation of the law and was based on legal principles and precedents. en-us Thu, 28 Nov 2002 00:00:00 +0530 Thu, 21 Jun 2012 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68554 The Tribunal held that interest under s. 17B of the Wealth Tax Act should only be charged on the amount of tax remaining outstanding after the due date for filing the return, not on the total tax payable. Consequently, the rejection of the assessee's rectification petition was deemed unjust, and the Tribunal directed the Assessing Officer to modify the orders in favor of the assessee, allowing all three appeals. The decision clarified the interpretation of the law and was based on legal principles and precedents. Case-Laws Wealth-tax Thu, 28 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68554