1988 (5) TMI 27

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....ollowing two questions have been referred under section 256(1) of the Income-tax Act, 1961, for the opinion of this court : "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that the interest paid for non-payment of purchase tax under the U.P. Sugarcane (Purchase Tax) Act, 1961, is not tantamount to penalty.? 2. Whether, on the ....