HC dismissed the appeal. The assessee is liable to pay interest...

HC dismissed the appeal. The assessee is liable to pay interest u/s 220(2) beyond the four-year period from the assessment date as per Section 154. The HC held that despite the demand notice u/s 154, the assessee failed to pay the amount due within 30 days. There is no specific time limit for charging interest, and the power was exercised within a reasonable time. The substantial question of law was answered in favor of the revenue.