https://www.taxtmi.com/caselaws?id=78230 The High Court determined that both the assessee and the Revenue were responsible for delays in the filing process, leading to a nuanced approach in calculating interest under section 158BFA(1) of the Income-tax Act, 1961. The Court held that if the filing period exceeded 45 days, the assessee would be liable to pay interest for the period beyond the prescribed time, considering delays caused by both parties. The Court disagreed with the Tribunal's decision and provided a method to calculate the interest liability based on the total time taken to file the return, excluding delays caused by the Department. en-us Thu, 22 Jul 2010 00:00:00 +0530 Wed, 10 Nov 2010 12:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78230 The High Court determined that both the assessee and the Revenue were responsible for delays in the filing process, leading to a nuanced approach in calculating interest under section 158BFA(1) of the Income-tax Act, 1961. The Court held that if the filing period exceeded 45 days, the assessee would be liable to pay interest for the period beyond the prescribed time, considering delays caused by both parties. The Court disagreed with the Tribunal's decision and provided a method to calculate the interest liability based on the total time taken to file the return, excluding delays caused by the Department. Case-Laws Income Tax Thu, 22 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78230