https://www.taxtmi.com/caselaws?id=21659 The court held that an assessment made for the first time under section 147 of the Income-tax Act qualifies as a "regular assessment" for charging interest under section 217. The court reasoned that the provision treating a notice under section 147 as a notice under section 139(2) implies such assessments should be considered regular. The decision clarified that this interpretation applies only to initial assessments under section 147, not reassessments, and aligned with the Taxation Laws (Amendment) Act, 1984, which confirmed such assessments as regular for specific sections. The petition challenging interest levy under section 217 was dismissed. en-us Fri, 10 Apr 1992 00:00:00 +0530 Thu, 26 Nov 2009 13:45:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21659 The court held that an assessment made for the first time under section 147 of the Income-tax Act qualifies as a "regular assessment" for charging interest under section 217. The court reasoned that the provision treating a notice under section 147 as a notice under section 139(2) implies such assessments should be considered regular. The decision clarified that this interpretation applies only to initial assessments under section 147, not reassessments, and aligned with the Taxation Laws (Amendment) Act, 1984, which confirmed such assessments as regular for specific sections. The petition challenging interest levy under section 217 was dismissed. Case-Laws Income Tax Fri, 10 Apr 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21659