https://www.taxtmi.com/caselaws?id=23767 Interest under Section 139(8) of the Income-tax Act is treated as part of the assessment process and can be challenged in appeal against the assessment order when the assessee disputes the liability itself. The levy is compensatory and applies only on tax remaining payable after credit for tax deducted at source. Where tax deducted at source exceeds the assessed tax, no tax remains on which interest can be computed, so no interest is chargeable. The reference was answered in favour of the assessee on both issues, and the Revenue's challenge failed. en-us Wed, 19 Apr 1989 00:00:00 +0530 Thu, 14 Jan 2010 11:24:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23767 Interest under Section 139(8) of the Income-tax Act is treated as part of the assessment process and can be challenged in appeal against the assessment order when the assessee disputes the liability itself. The levy is compensatory and applies only on tax remaining payable after credit for tax deducted at source. Where tax deducted at source exceeds the assessed tax, no tax remains on which interest can be computed, so no interest is chargeable. The reference was answered in favour of the assessee on both issues, and the Revenue's challenge failed. Case-Laws Income Tax Wed, 19 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23767