https://www.taxtmi.com/caselaws?id=26661 The court upheld the Income-tax Appellate Tribunal's decision that the Appellate Assistant Commissioner rightly entertained the appeal on the levy of penal interest under section 215 of the Income-tax Act, 1961. It was determined that the AAC did not exceed his jurisdiction in directing the waiver of interest, and the Tribunal's decision to sustain the AAC's order waiving interest from April 1973 to the date of assessment was justified. The court ruled in favor of the assessee, affirming all issues in their favor against the Revenue. en-us Thu, 25 Jul 1985 00:00:00 +0530 Sat, 06 Feb 2010 16:11:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26661 The court upheld the Income-tax Appellate Tribunal's decision that the Appellate Assistant Commissioner rightly entertained the appeal on the levy of penal interest under section 215 of the Income-tax Act, 1961. It was determined that the AAC did not exceed his jurisdiction in directing the waiver of interest, and the Tribunal's decision to sustain the AAC's order waiving interest from April 1973 to the date of assessment was justified. The court ruled in favor of the assessee, affirming all issues in their favor against the Revenue. Case-Laws Income Tax Thu, 25 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26661