https://www.taxtmi.com/caselaws?id=71247 The Tribunal allowed the appeal, setting aside the charging of interest under section 158BFA(1) for delay in filing the block return. It emphasized that penal interest should only be imposed in cases of default or lack of bona fides, not when the delay is due to the department's inaction. The Tribunal directed the Assessing Officer to verify when the necessary material was provided before levying any interest, highlighting the importance of considering the circumstances leading to the delay to ensure fairness in tax assessments. en-us Wed, 29 Mar 2006 00:00:00 +0530 Fri, 22 Apr 2011 11:29:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71247 The Tribunal allowed the appeal, setting aside the charging of interest under section 158BFA(1) for delay in filing the block return. It emphasized that penal interest should only be imposed in cases of default or lack of bona fides, not when the delay is due to the department's inaction. The Tribunal directed the Assessing Officer to verify when the necessary material was provided before levying any interest, highlighting the importance of considering the circumstances leading to the delay to ensure fairness in tax assessments. Case-Laws Income Tax Wed, 29 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71247