https://www.taxtmi.com/caselaws?id=70260 Rule 40(1) vests discretion to reduce or waive interest in the Income-tax Officer, and in specified cases the Inspecting Assistant Commissioner; the Appellate Commissioner could not itself direct restriction of interest under Section 217(1A), so that direction was set aside. An appeal was still maintainable because it raised grounds beyond the interest challenge, and the presence of the interest ground did not make the appeal incompetent. en-us Fri, 02 Aug 1985 00:00:00 +0530 Fri, 15 Apr 2011 11:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70260 Rule 40(1) vests discretion to reduce or waive interest in the Income-tax Officer, and in specified cases the Inspecting Assistant Commissioner; the Appellate Commissioner could not itself direct restriction of interest under Section 217(1A), so that direction was set aside. An appeal was still maintainable because it raised grounds beyond the interest challenge, and the presence of the interest ground did not make the appeal incompetent. Case-Laws Income Tax Fri, 02 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70260