https://www.taxtmi.com/caselaws?id=204605 The court ruled in favor of the Revenue on all issues, including disallowing the deduction of expenditure towards earning exempt income, holding the assessee liable to pay interest for belated filing of return under section 158BFA(1), allowing the levy of surcharge for the block period, clarifying that section 158BFA(1) interest is for delayed filing, not non-payment of tax, and rejecting the extension of self-assessment tax liability prospectively from 1st June 1999. The appeals were allowed, confirming the assessment orders and setting aside the Tribunal's decisions. en-us Thu, 30 Jul 2009 00:00:00 +0530 Sat, 05 Jan 2019 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204605 The court ruled in favor of the Revenue on all issues, including disallowing the deduction of expenditure towards earning exempt income, holding the assessee liable to pay interest for belated filing of return under section 158BFA(1), allowing the levy of surcharge for the block period, clarifying that section 158BFA(1) interest is for delayed filing, not non-payment of tax, and rejecting the extension of self-assessment tax liability prospectively from 1st June 1999. The appeals were allowed, confirming the assessment orders and setting aside the Tribunal's decisions. Case-Laws Income Tax Thu, 30 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204605