https://www.taxtmi.com/caselaws?id=117407 The tribunal partly allowed the revenue's appeals and allowed the assessee's appeals for statistical purposes only. It was held that interest under sections 139(8) and 217 can be charged based on assessed tax, and appeals against charging of interest are maintainable when the assessee denies liability. Non-mentioning of interest in the assessment order does not amount to waiver, and the issue of depreciation was restored for re-decision. The tribunal provided detailed guidelines for the Assessing Officer to calculate interest in line with established legal principles. en-us Tue, 30 Aug 2005 00:00:00 +0530 Fri, 22 Jun 2012 14:34:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117407 The tribunal partly allowed the revenue's appeals and allowed the assessee's appeals for statistical purposes only. It was held that interest under sections 139(8) and 217 can be charged based on assessed tax, and appeals against charging of interest are maintainable when the assessee denies liability. Non-mentioning of interest in the assessment order does not amount to waiver, and the issue of depreciation was restored for re-decision. The tribunal provided detailed guidelines for the Assessing Officer to calculate interest in line with established legal principles. Case-Laws Income Tax Tue, 30 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117407