https://www.taxtmi.com/caselaws?id=18110 The court addressed whether an assessment made after a notice under section 148 of the Income-tax Act constitutes a regular assessment for levying interest under sections 139(8) and 217. Assessments were conducted for certain years, with interest levied and subsequently enhanced by the Assessing Officer. The Appellate Assistant Commissioner reduced the income, leading to a reduction in interest. The Tribunal allowed appeals against the interest levied, emphasizing that assessments under section 147 are not considered regular assessments for interest purposes. The court concluded that interest could not be levied retrospectively and rejected the applications. en-us Fri, 04 Oct 1996 00:00:00 +0530 Sat, 26 Sep 2009 17:57:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18110 The court addressed whether an assessment made after a notice under section 148 of the Income-tax Act constitutes a regular assessment for levying interest under sections 139(8) and 217. Assessments were conducted for certain years, with interest levied and subsequently enhanced by the Assessing Officer. The Appellate Assistant Commissioner reduced the income, leading to a reduction in interest. The Tribunal allowed appeals against the interest levied, emphasizing that assessments under section 147 are not considered regular assessments for interest purposes. The court concluded that interest could not be levied retrospectively and rejected the applications. Case-Laws Income Tax Fri, 04 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18110