https://www.taxtmi.com/caselaws?id=25465 Whether interest under section 139(8) and section 217 can be levied on an assessment made after notice under section 148 and completed under section 143(3) read with section 147 is examined; the statutory definition of regular assessment is limited to assessments under section 143 or section 144, and reassessment under section 147 therefore falls outside that definition, so interest authorised only for regular assessments cannot be imposed on such reassessment; the Explanation inserted later operates prospectively and does not validate earlier levies; where the assessee denies liability to interest, the levy may be contested and is maintainable to the extent of non-liability. en-us Tue, 25 Aug 1987 00:00:00 +0530 Thu, 15 Jan 2026 18:44:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25465 Whether interest under section 139(8) and section 217 can be levied on an assessment made after notice under section 148 and completed under section 143(3) read with section 147 is examined; the statutory definition of regular assessment is limited to assessments under section 143 or section 144, and reassessment under section 147 therefore falls outside that definition, so interest authorised only for regular assessments cannot be imposed on such reassessment; the Explanation inserted later operates prospectively and does not validate earlier levies; where the assessee denies liability to interest, the levy may be contested and is maintainable to the extent of non-liability. Case-Laws Income Tax Tue, 25 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25465