https://www.taxtmi.com/caselaws?id=70982 The appeal challenged the inclusion of a term deposit in the assessee's income by the Assessing Officer. The DC (A) held that objections should have been raised initially and supported the inclusion. The ITAT member disagreed, noting the assessee's objections raised after inclusion. The issue was remanded for fresh consideration. The ITAT rejected excessive interest objections under sections 139(8), 217, and 220, directing relief under section 220(2A). Charging interest under sections 217 and 139(8) for the same period was deemed unjustified, canceling 139(8) interest but confirming 217 interest. The appeal was partly allowed with detailed reasoning provided. en-us Tue, 16 Feb 1993 00:00:00 +0530 Wed, 20 Apr 2011 14:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70982 The appeal challenged the inclusion of a term deposit in the assessee's income by the Assessing Officer. The DC (A) held that objections should have been raised initially and supported the inclusion. The ITAT member disagreed, noting the assessee's objections raised after inclusion. The issue was remanded for fresh consideration. The ITAT rejected excessive interest objections under sections 139(8), 217, and 220, directing relief under section 220(2A). Charging interest under sections 217 and 139(8) for the same period was deemed unjustified, canceling 139(8) interest but confirming 217 interest. The appeal was partly allowed with detailed reasoning provided. Case-Laws Income Tax Tue, 16 Feb 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70982