https://www.taxtmi.com/caselaws?id=70373 The Tribunal ruled in favor of the assessees, holding that the Commissioner's decision to set aside the assessment orders based on non-initiation of penalty proceedings and other grounds was not justified. The Tribunal emphasized the distinction between assessment and penalty proceedings, highlighting that minor lapses do not render assessment orders erroneous or prejudicial to revenue. The Tribunal directed the ITO to examine the levy of interest under section 217(1A) if deemed necessary but allowed the appeals, stating that the assessments should not have been set aside solely for non-levy of interest. en-us Tue, 30 Oct 1984 00:00:00 +0530 Fri, 15 Apr 2011 17:59:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70373 The Tribunal ruled in favor of the assessees, holding that the Commissioner's decision to set aside the assessment orders based on non-initiation of penalty proceedings and other grounds was not justified. The Tribunal emphasized the distinction between assessment and penalty proceedings, highlighting that minor lapses do not render assessment orders erroneous or prejudicial to revenue. The Tribunal directed the ITO to examine the levy of interest under section 217(1A) if deemed necessary but allowed the appeals, stating that the assessments should not have been set aside solely for non-levy of interest. Case-Laws Income Tax Tue, 30 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70373