1995 (2) TMI 47

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion has been referred for our opinion : " Whether, on the facts and in the circumstances of the case, where there was no tax payable by the firm on the ultimate assessment, the Tribunal was justified in holding that interest under section 139(8) of the Income-tax Act, 1961, is not chargeable ? " The assessee derives income from contract works. There were various defects and irregularities i....