https://www.taxtmi.com/caselaws?id=11326 Interest under section 20C(5) of the Assam Agricultural Income-tax Act, 1939 requires a specific order setting out the grounds, relevant period and rate of levy. The assessment order in question merely directed addition of interest without recording reasons or identifying the period for which interest was charged. As section 20C(5) was treated as materially similar to section 234B of the Income-tax Act, 1961, the absence of a clear and specific authorisation meant the interest demand could not be sustained. The levy was therefore invalid and quashed in favour of the assessee. en-us Mon, 27 Oct 2003 00:00:00 +0530 Thu, 06 Aug 2009 19:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11326 Interest under section 20C(5) of the Assam Agricultural Income-tax Act, 1939 requires a specific order setting out the grounds, relevant period and rate of levy. The assessment order in question merely directed addition of interest without recording reasons or identifying the period for which interest was charged. As section 20C(5) was treated as materially similar to section 234B of the Income-tax Act, 1961, the absence of a clear and specific authorisation meant the interest demand could not be sustained. The levy was therefore invalid and quashed in favour of the assessee. Case-Laws Income Tax Mon, 27 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11326