https://www.taxtmi.com/caselaws?id=234882 The Tribunal dismissed most appeals challenging the rejection of rectification applications under section 154 of the Income Tax Act for re-computing interest under section 220(2). The Tribunal upheld the interest levy, emphasizing the automatic nature of the charge and the limited scope of rectification. However, in one appeal, the Tribunal remitted the matter for verification of relief granted in other years, potentially affecting interest liability. Ultimately, the Tribunal dismissed most appeals but allowed one for statistical purposes based on individual circumstances and relief granted in other assessment years. en-us Fri, 28 Jun 2013 00:00:00 +0530 Tue, 02 Jul 2013 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234882 The Tribunal dismissed most appeals challenging the rejection of rectification applications under section 154 of the Income Tax Act for re-computing interest under section 220(2). The Tribunal upheld the interest levy, emphasizing the automatic nature of the charge and the limited scope of rectification. However, in one appeal, the Tribunal remitted the matter for verification of relief granted in other years, potentially affecting interest liability. Ultimately, the Tribunal dismissed most appeals but allowed one for statistical purposes based on individual circumstances and relief granted in other assessment years. Case-Laws Income Tax Fri, 28 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234882