https://www.taxtmi.com/caselaws?id=12580 The court upheld the levy of penal interest under sections 234A, 234B, and 234C of the Income-tax Act for the assessment year 1997-98. The challenge to the interest levy was dismissed due to delay and lack of satisfactory explanation, with the court emphasizing the petitioner's failure to timely address the issue and differentiate their case from cited judgments. The court found the retrospective application of Explanation 1 to section 234B unnecessary in this context, ultimately dismissing the writ petition on grounds of delay and laches. en-us Thu, 17 Jan 2002 00:00:00 +0530 Wed, 20 May 2009 12:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12580 The court upheld the levy of penal interest under sections 234A, 234B, and 234C of the Income-tax Act for the assessment year 1997-98. The challenge to the interest levy was dismissed due to delay and lack of satisfactory explanation, with the court emphasizing the petitioner's failure to timely address the issue and differentiate their case from cited judgments. The court found the retrospective application of Explanation 1 to section 234B unnecessary in this context, ultimately dismissing the writ petition on grounds of delay and laches. Case-Laws Income Tax Thu, 17 Jan 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12580