https://www.taxtmi.com/caselaws?id=18750 The High Court of Madhya Pradesh ruled in favor of the assessee, holding that the interest levy under section 139(8) of the Income-tax Act, 1961 was not justified for the assessment year 1975-76. The court determined that since the assessment was not a regular assessment but one initiated under section 148 due to income escaping assessment, the interest was not applicable. The court found that the Tribunal erred in law by deeming the interest as leviable in this context, ultimately deciding against the Revenue and in favor of the assessee. en-us Tue, 12 Dec 1995 00:00:00 +0530 Sat, 31 Oct 2009 17:22:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18750 The High Court of Madhya Pradesh ruled in favor of the assessee, holding that the interest levy under section 139(8) of the Income-tax Act, 1961 was not justified for the assessment year 1975-76. The court determined that since the assessment was not a regular assessment but one initiated under section 148 due to income escaping assessment, the interest was not applicable. The court found that the Tribunal erred in law by deeming the interest as leviable in this context, ultimately deciding against the Revenue and in favor of the assessee. Case-Laws Income Tax Tue, 12 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18750