https://www.taxtmi.com/caselaws?id=67586 The appeals were dismissed, holding that the assessee was not liable to pay interest under sections 139(8) and 215 for assessments made under section 147 for the relevant assessment years. The Tribunal concluded that assessments under section 147 could not be considered 'regular assessments' and thus should not attract interest. The dissenting Judicial Member argued for retrospective application of the amendment, but the Third Member, concurring with the Accountant Member, upheld that the levy of interest was unlawful based on prior interpretations and the specific legislative provisions. en-us Mon, 23 Nov 1987 00:00:00 +0530 Fri, 11 Mar 2011 14:30:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67586 The appeals were dismissed, holding that the assessee was not liable to pay interest under sections 139(8) and 215 for assessments made under section 147 for the relevant assessment years. The Tribunal concluded that assessments under section 147 could not be considered 'regular assessments' and thus should not attract interest. The dissenting Judicial Member argued for retrospective application of the amendment, but the Third Member, concurring with the Accountant Member, upheld that the levy of interest was unlawful based on prior interpretations and the specific legislative provisions. Case-Laws Income Tax Mon, 23 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67586