https://www.taxtmi.com/caselaws?id=10619 The High Court upheld the Tribunal's decision to delete the interest levied under section 215 of the Income-tax Act, 1961. It found that the assessee had not committed any default justifying the levy of interest, considering past practices and the method of valuation of closing stock. The judgment favored the assessee, ruling against the Revenue and disposing of the reference with no costs awarded. en-us Wed, 23 Feb 2005 00:00:00 +0530 Mon, 20 Jul 2009 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10619 The High Court upheld the Tribunal's decision to delete the interest levied under section 215 of the Income-tax Act, 1961. It found that the assessee had not committed any default justifying the levy of interest, considering past practices and the method of valuation of closing stock. The judgment favored the assessee, ruling against the Revenue and disposing of the reference with no costs awarded. Case-Laws Income Tax Wed, 23 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10619