https://www.taxtmi.com/caselaws?id=26684 The High Court ruled in favor of the Revenue in a case concerning the assessment of a registered firm for the assessment year 1969-70. The Court held that the Income-tax Officer lacked jurisdiction to waive interest without obtaining prior approval as required under rule 117A, emphasizing that waiver is the only power allowing the Officer not to charge interest. The judgment was disposed of in favor of the Revenue due to the absence of representation by the assessee, and the Court directed the transmission of the judgment to the Income-tax Appellate Tribunal in accordance with section 260 of the Act. en-us Thu, 16 Jan 1986 00:00:00 +0530 Sat, 06 Feb 2010 17:25:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26684 The High Court ruled in favor of the Revenue in a case concerning the assessment of a registered firm for the assessment year 1969-70. The Court held that the Income-tax Officer lacked jurisdiction to waive interest without obtaining prior approval as required under rule 117A, emphasizing that waiver is the only power allowing the Officer not to charge interest. The judgment was disposed of in favor of the Revenue due to the absence of representation by the assessee, and the Court directed the transmission of the judgment to the Income-tax Appellate Tribunal in accordance with section 260 of the Act. Case-Laws Income Tax Thu, 16 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26684