https://www.taxtmi.com/caselaws?id=24023 The Karnataka High Court held that assessments under section 147 are not regular assessments, and interest charges under section 139(8) and section 217 are not applicable to such assessments. The court quashed the demand notices for interest, ruling them unsustainable. The petitioner's writ application was allowed, and a writ of mandamus was issued to prevent enforcement of the interest levies. The court emphasized the commercial nature of interest under section 139(8) as compensation for delayed tax payment. en-us Wed, 02 Aug 1989 00:00:00 +0530 Sat, 16 Jan 2010 10:40:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24023 The Karnataka High Court held that assessments under section 147 are not regular assessments, and interest charges under section 139(8) and section 217 are not applicable to such assessments. The court quashed the demand notices for interest, ruling them unsustainable. The petitioner's writ application was allowed, and a writ of mandamus was issued to prevent enforcement of the interest levies. The court emphasized the commercial nature of interest under section 139(8) as compensation for delayed tax payment. Case-Laws Income Tax Wed, 02 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24023