https://www.taxtmi.com/caselaws?id=67223 The Appellate Tribunal ITAT Jabalpur dismissed the appeals by the revenue and cross-objections by the assessee regarding relief on interest charged under section 220(2) of the Income-tax Act, 1961. The Tribunal found that the Income Tax Officer had not correctly calculated interest as required by Rule 118 and had erroneously applied Rule 119. The Commissioner (Appeals) was directed to recalculate the interest in accordance with the relevant rules. The Tribunal upheld the Commissioner's decision, emphasizing the necessity of accurate interest calculation and compliance with statutory provisions. en-us Tue, 26 Mar 1985 00:00:00 +0530 Wed, 09 Mar 2011 15:53:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67223 The Appellate Tribunal ITAT Jabalpur dismissed the appeals by the revenue and cross-objections by the assessee regarding relief on interest charged under section 220(2) of the Income-tax Act, 1961. The Tribunal found that the Income Tax Officer had not correctly calculated interest as required by Rule 118 and had erroneously applied Rule 119. The Commissioner (Appeals) was directed to recalculate the interest in accordance with the relevant rules. The Tribunal upheld the Commissioner's decision, emphasizing the necessity of accurate interest calculation and compliance with statutory provisions. Case-Laws Income Tax Tue, 26 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67223