Court Upholds Penalty u/s 13 of Interest Tax Act: Bill Discounting Charges Must Be Included in Interest.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Deleting penalty u/s 13 of Interest Tax Act. 1974 - ‘bill discounting charges’ have to be computed and included in interest - Penalty levied - This is not the case of a bonafide, honest or even plausible different interpretation. - penalty confirmed - HC....