https://www.taxtmi.com/caselaws?id=13812 The court found that Chapter XX-A of the Income-tax Act, 1961, applied to a transaction dated September 30, 1986, rather than Chapter XX-C. Consequently, the order passed under Chapter XX-C on December 15, 1986, was deemed invalid. The court clarified that Chapter XX-C could not be retrospectively applied. The respondents' request for interest on delayed payment was denied as the delay was not attributable to the petitioner or income-tax authorities acting in good faith. The impugned order was set aside, and the interest request was rejected. en-us Thu, 23 Nov 2000 00:00:00 +0530 Fri, 03 Jul 2009 10:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13812 The court found that Chapter XX-A of the Income-tax Act, 1961, applied to a transaction dated September 30, 1986, rather than Chapter XX-C. Consequently, the order passed under Chapter XX-C on December 15, 1986, was deemed invalid. The court clarified that Chapter XX-C could not be retrospectively applied. The respondents' request for interest on delayed payment was denied as the delay was not attributable to the petitioner or income-tax authorities acting in good faith. The impugned order was set aside, and the interest request was rejected. Case-Laws Income Tax Thu, 23 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13812