https://www.taxtmi.com/caselaws?id=202284 The court condoned a 90-day delay in refiling the appeal and proceeded with the case. The issue revolved around the tax treatment of interest accrued on a Fixed Deposit Receipt (FDR). The Assessing Officer imposed a penalty, but the Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal ruled in favor of the assessee, stating there was no concealment of income. Both bodies emphasized the absence of material facts concealment, leading to the dismissal of the penalty. The appeal was ultimately dismissed as there was no legal question regarding the tax treatment of the FDR interest. en-us Wed, 01 Dec 2010 00:00:00 +0530 Wed, 26 Dec 2012 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202284 The court condoned a 90-day delay in refiling the appeal and proceeded with the case. The issue revolved around the tax treatment of interest accrued on a Fixed Deposit Receipt (FDR). The Assessing Officer imposed a penalty, but the Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal ruled in favor of the assessee, stating there was no concealment of income. Both bodies emphasized the absence of material facts concealment, leading to the dismissal of the penalty. The appeal was ultimately dismissed as there was no legal question regarding the tax treatment of the FDR interest. Case-Laws Income Tax Wed, 01 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202284