https://www.taxtmi.com/caselaws?id=430613 The Court held that interest under Section 220(2) of the Income Tax Act can only be charged after the expiry of the time limit prescribed in the fresh demand notice issued pursuant to the fresh assessment order, not from the date of the original assessment order. The Court referred to CBDT Circular No. 334 and judgments of High Courts in support of this position. It distinguished a Supreme Court judgment and concluded that the levy of interest by the Assessing Officer relating back to the set-aside assessment order was incorrect. The appeal was dismissed, affirming the deletion of the interest levy by the CIT(A) and ITAT. en-us Thu, 17 Nov 2022 00:00:00 +0530 Mon, 27 Feb 2023 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430613 The Court held that interest under Section 220(2) of the Income Tax Act can only be charged after the expiry of the time limit prescribed in the fresh demand notice issued pursuant to the fresh assessment order, not from the date of the original assessment order. The Court referred to CBDT Circular No. 334 and judgments of High Courts in support of this position. It distinguished a Supreme Court judgment and concluded that the levy of interest by the Assessing Officer relating back to the set-aside assessment order was incorrect. The appeal was dismissed, affirming the deletion of the interest levy by the CIT(A) and ITAT. Case-Laws Income Tax Thu, 17 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430613