https://www.taxtmi.com/caselaws?id=71195 The Tribunal ruled in favor of the appellants, deleting the interest imposed under section 220(2) of the Income Tax Act. It held that the interest could not be charged as no notice of demand was served before levying it, as required by the law. The Tribunal emphasized the necessity of a demand notice and default in payment for imposing interest under section 220. Additionally, it clarified that the appeals solely concerned the levy of interest, not the computation of total income, setting the payable fees at Rs. 500 for each appeal. en-us Wed, 13 Apr 2005 00:00:00 +0530 Thu, 21 Apr 2011 18:06:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71195 The Tribunal ruled in favor of the appellants, deleting the interest imposed under section 220(2) of the Income Tax Act. It held that the interest could not be charged as no notice of demand was served before levying it, as required by the law. The Tribunal emphasized the necessity of a demand notice and default in payment for imposing interest under section 220. Additionally, it clarified that the appeals solely concerned the levy of interest, not the computation of total income, setting the payable fees at Rs. 500 for each appeal. Case-Laws Income Tax Wed, 13 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71195