https://www.taxtmi.com/caselaws?id=20640 The High Court held that interest under sections 139(8) and 217 of the Income-tax Act should not be charged in a case where the assessment was made under section 147, as it does not qualify as a "regular assessment" under the Act. The Court emphasized that the term "regular assessment" should be interpreted in accordance with the Act's definitions. The Court also noted that the amendment deeming an assessment under section 147 as a regular assessment does not apply retrospectively. Consequently, the judgment favored the assessee, directing the case to be sent to the Appellate Tribunal without costs. en-us Wed, 23 Jun 1993 00:00:00 +0530 Mon, 16 Nov 2009 12:44:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20640 The High Court held that interest under sections 139(8) and 217 of the Income-tax Act should not be charged in a case where the assessment was made under section 147, as it does not qualify as a "regular assessment" under the Act. The Court emphasized that the term "regular assessment" should be interpreted in accordance with the Act's definitions. The Court also noted that the amendment deeming an assessment under section 147 as a regular assessment does not apply retrospectively. Consequently, the judgment favored the assessee, directing the case to be sent to the Appellate Tribunal without costs. Case-Laws Income Tax Wed, 23 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20640