Wednesday, May 6, 2020

Interest under Income Tax Act can’t be levied on a Wound-Up Company: Madras HC [Read Judgment]

The High Court of Madras, in a recent ruling, held that no levy of interest can be made under the provisions of Income Tax Act, 1961 against a wound-up company. The High Court, further observed that the Chief Commissioner of Income Tax has no power to grant a waiver of interest in the light of […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2SFFC9G

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