1983 (10) TMI 21

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....his matter, the assessee who is represented by advocate Mr. Chimanlal T. Mody has chosen to remain absent. However, it is clear that the matter is concluded by the decision of the Full Bench of this High Court in CIT v. Daimler Benz [1977] 108 ITR 961. A few facts may be stated as under: The assessee is M/s. P. Rajesh and Company, a registered firm which carries on business in art silk cloth on....

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....use has been properly appreciated, the ITO should have waived the levy of interest under rule 117A(v) of the I.T. Rules, 1962. The AAC in his order referred to s. 139(8) of the I.T. Act, 1961, and holding that the ITO had failed to consider the appellant's submissions, set aside the assessment as far as the levy of interest was concerned. Being aggrieved by the order of the AAC, the Revenue cam....