https://www.taxtmi.com/caselaws?id=151136 The Tribunal partially allowed the Revenue's appeal challenging the levy of interest under section 220(2) of the Income-tax Act for delay in payment of demand in a block assessment case. It held that interest is leviable from the default date until the admission of the application by the Settlement Commission, and should be revised if the demand is reduced. The Tribunal rejected the assessee's claim that no interest could be charged and dismissed the Revenue's argument for interest up to the final order of the Settlement Commission. The judgment was delivered by the Appellate Tribunal ITAT Mumbai on March 26, 2009. en-us Thu, 26 Mar 2009 00:00:00 +0530 Wed, 21 Sep 2016 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151136 The Tribunal partially allowed the Revenue's appeal challenging the levy of interest under section 220(2) of the Income-tax Act for delay in payment of demand in a block assessment case. It held that interest is leviable from the default date until the admission of the application by the Settlement Commission, and should be revised if the demand is reduced. The Tribunal rejected the assessee's claim that no interest could be charged and dismissed the Revenue's argument for interest up to the final order of the Settlement Commission. The judgment was delivered by the Appellate Tribunal ITAT Mumbai on March 26, 2009. Case-Laws Income Tax Thu, 26 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151136