https://www.taxtmi.com/caselaws?id=26900 The court declined to condone the delay in filing applications under section 256(1) of the Income-tax Act, 1961, emphasizing the necessity of separate applications for each assessment year. It noted the assessee's awareness of this requirement and upheld the Tribunal's decision regarding interest claimed on borrowed capital for specific assessment years. The court highlighted the importance of plausible explanations for delays and concluded that the Tribunal's findings were factual, leading to the rejection of the application without costs. en-us Tue, 13 Nov 1984 00:00:00 +0530 Tue, 09 Feb 2010 12:06:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26900 The court declined to condone the delay in filing applications under section 256(1) of the Income-tax Act, 1961, emphasizing the necessity of separate applications for each assessment year. It noted the assessee's awareness of this requirement and upheld the Tribunal's decision regarding interest claimed on borrowed capital for specific assessment years. The court highlighted the importance of plausible explanations for delays and concluded that the Tribunal's findings were factual, leading to the rejection of the application without costs. Case-Laws Income Tax Tue, 13 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26900