https://www.taxtmi.com/caselaws?id=64325 Reassessment made for the first time under section 147/148 was treated as a regular assessment for levy of interest under sections 139(8) and 215/217 for assessment year 1988-89, but the interest was deleted for assessment year 1989-90 for want of a specific charging order. Interest under sections 234A and 234B could not be imposed on a mere general direction to charge it as per law, and was therefore deleted. Notional interest on tenant security deposits could not be added to annual value under section 23 because annual value is confined to actual rent or fair rent. Amounts received against possession of shops were held not to be short-term capital gains, as no transfer of property rights was shown. Depreciation was remitted for fresh factual verification. en-us Thu, 14 Aug 2003 00:00:00 +0530 Mon, 07 Feb 2011 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64325 Reassessment made for the first time under section 147/148 was treated as a regular assessment for levy of interest under sections 139(8) and 215/217 for assessment year 1988-89, but the interest was deleted for assessment year 1989-90 for want of a specific charging order. Interest under sections 234A and 234B could not be imposed on a mere general direction to charge it as per law, and was therefore deleted. Notional interest on tenant security deposits could not be added to annual value under section 23 because annual value is confined to actual rent or fair rent. Amounts received against possession of shops were held not to be short-term capital gains, as no transfer of property rights was shown. Depreciation was remitted for fresh factual verification. Case-Laws Income Tax Thu, 14 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64325