, ADMISSIBILITY--Interest under s. 215.
Levy of interest under section 215 can be appealed against only if the assessee denies his liability of penal interest, not in a case where he mere disputes the quantum of interest.
If an assessee challenges only the quantum of the penal interest, then it is not permissible to him to go in appeal to the Appellate Assistant Commissioner under section 246(c) (as it then stood) but if the assessee denies the very liability to be charged with penal interest, then it is permissible to him to go in appeal to the Appellate Assistant Commissioner under section 246(c) and when such an appeal has been filed, it will be open to the Appellate Assistant Commissioner to take into account all points which may ligitimately reduce the taxable income or the tax to be paid but also substantially reduce the quantum of the penal interest.
Section 215 is inoperative now.
Income Tax Act 1961 s.215
Income Tax Act 1961 s.246
Roads in factory premises are building and not 'plant' for the purpose of depreciation.
As roads played no part in production as defined in section 43(3), and because they are adjuncts to factory buildings, they are to be treated as `building' for depreciation.
Also to current assessment years.
Income Tax Act 1961 s.32
Income Tax Act 1961 s.43(3)