https://www.taxtmi.com/caselaws?id=25906 The High Court held that interest can be charged under section 139 by invoking section 154 of the Income-tax Act. The court emphasized the mandatory nature of interest charging under section 139(8) and ruled that the Taxing Officer lacked jurisdiction to waive interest. As approval from the Inspecting Assistant Commissioner was not obtained for waiver exceeding Rs. 1,000, the court concluded that interest could not be waived in this case. The Tribunal's decision was overturned, and the court ruled in favor of the Revenue, ordering the assessee to pay costs of Rs. 500. en-us Fri, 02 Jan 1987 00:00:00 +0530 Mon, 01 Feb 2010 16:02:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25906 The High Court held that interest can be charged under section 139 by invoking section 154 of the Income-tax Act. The court emphasized the mandatory nature of interest charging under section 139(8) and ruled that the Taxing Officer lacked jurisdiction to waive interest. As approval from the Inspecting Assistant Commissioner was not obtained for waiver exceeding Rs. 1,000, the court concluded that interest could not be waived in this case. The Tribunal's decision was overturned, and the court ruled in favor of the Revenue, ordering the assessee to pay costs of Rs. 500. Case-Laws Income Tax Fri, 02 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25906