https://www.taxtmi.com/caselaws?id=70874 The Tribunal reversed the CIT(A)'s decision to cancel interest levied under section 139(8) of the IT Act 1961 for the assessment year 1982-83. It held that interest should be levied based on the tax payable if the firm were assessed as an unregistered firm, following precedents and interpretations of relevant provisions. The Tribunal emphasized that interest levy is part of the assessment process and can be challenged in appeal, ultimately upholding the ITO's order to levy interest in this case. en-us Tue, 13 Oct 1987 00:00:00 +0530 Tue, 19 Apr 2011 17:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70874 The Tribunal reversed the CIT(A)'s decision to cancel interest levied under section 139(8) of the IT Act 1961 for the assessment year 1982-83. It held that interest should be levied based on the tax payable if the firm were assessed as an unregistered firm, following precedents and interpretations of relevant provisions. The Tribunal emphasized that interest levy is part of the assessment process and can be challenged in appeal, ultimately upholding the ITO's order to levy interest in this case. Case-Laws Income Tax Tue, 13 Oct 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70874