https://www.taxtmi.com/caselaws?id=15409 The court ruled in favor of the Revenue, upholding the levying of interest under sections 139(8) and 217 for assessments made under section 147. It emphasized the importance of ensuring compliance with tax obligations and rejected the Appellate Tribunal's decision to delete the interest levied on the assessee for delay in filing the return and non-payment of advance tax. The court considered the assessment made for the first time under section 147 as a regular assessment, aligning with previous decisions from High Courts of Delhi, Bombay, and Kerala supporting the validity of interest levy in such cases. en-us Mon, 14 Sep 1998 00:00:00 +0530 Thu, 06 Aug 2009 13:33:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15409 The court ruled in favor of the Revenue, upholding the levying of interest under sections 139(8) and 217 for assessments made under section 147. It emphasized the importance of ensuring compliance with tax obligations and rejected the Appellate Tribunal's decision to delete the interest levied on the assessee for delay in filing the return and non-payment of advance tax. The court considered the assessment made for the first time under section 147 as a regular assessment, aligning with previous decisions from High Courts of Delhi, Bombay, and Kerala supporting the validity of interest levy in such cases. Case-Laws Income Tax Mon, 14 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15409