The Constitution confers on the High Courts the power to give relief, it is the duty of the Courts to give such relief in appropriate cases and the Courts would be failing to perform their duty if relief is refused without adequate reasons: Supreme Court in a case of reassessment proceeding
“The court is very reluctant to interfere with the sufficiency of the findings and reasonings of the recorded reasons and was impressed by the gross negligence of the AO”: Calcutta HC
Master Circular – Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances
Calculation of taxable interest relating to contribution in a provident fund or recognised provided fund, exceeding specified limit.
