https://www.taxtmi.com/caselaws?id=27026 The High Court of Karnataka ruled in favor of the assessee, holding that the Additional Commissioner lacked jurisdiction to direct interest levy under section 139(1)(iii) of the Income-tax Act, 1961. The Court emphasized that interest, if applicable, forms part of the assessment order and must be adjusted if the assessable income is revised. As the Appellate Assistant Commissioner's order was final, any interest calculation should be based on the revised tax amount. The Court upheld the Tribunal's decision, ordering the Department to bear the costs and affirming that the Additional Commissioner's actions were beyond authority. en-us Wed, 17 Sep 1975 00:00:00 +0530 Wed, 10 Feb 2010 12:31:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27026 The High Court of Karnataka ruled in favor of the assessee, holding that the Additional Commissioner lacked jurisdiction to direct interest levy under section 139(1)(iii) of the Income-tax Act, 1961. The Court emphasized that interest, if applicable, forms part of the assessment order and must be adjusted if the assessable income is revised. As the Appellate Assistant Commissioner's order was final, any interest calculation should be based on the revised tax amount. The Court upheld the Tribunal's decision, ordering the Department to bear the costs and affirming that the Additional Commissioner's actions were beyond authority. Case-Laws Income Tax Wed, 17 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27026