https://www.taxtmi.com/caselaws?id=22951 The High Court of Bombay ruled in favor of the assessee-company in an appeal against the levy of interest under section 217(1A) for the assessment year 1971-72. The Court held that an appeal lies against the levy of interest if the assessee denies liability to pay penal interest at all, even if the liability to be assessed under the Act is not entirely denied. The Tribunal's decision granting relief under section 80J and rejecting the levy of interest was upheld, with the question of law answered in favor of the assessee. en-us Wed, 20 Feb 1991 00:00:00 +0530 Tue, 15 Dec 2009 15:28:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22951 The High Court of Bombay ruled in favor of the assessee-company in an appeal against the levy of interest under section 217(1A) for the assessment year 1971-72. The Court held that an appeal lies against the levy of interest if the assessee denies liability to pay penal interest at all, even if the liability to be assessed under the Act is not entirely denied. The Tribunal's decision granting relief under section 80J and rejecting the levy of interest was upheld, with the question of law answered in favor of the assessee. Case-Laws Income Tax Wed, 20 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22951