https://www.taxtmi.com/caselaws?id=34056 The Tribunal held that the Assessing Officer lacked authority to charge interest under sections 139 and 215/217 for assessment years prior to 1984-85, directing rectification. The Tribunal's interpretation of Explanation 2 to section 139(8) from 1985 clarified that interest could not be charged for assessment years 1976-77 and 1980-81. The Tribunal's decision, upheld by the High Court, emphasized the limitations on charging interest under the Income-tax Act, ruling in favor of the assessee against the Revenue. en-us Tue, 14 Aug 2007 00:00:00 +0530 Thu, 09 Jul 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34056 The Tribunal held that the Assessing Officer lacked authority to charge interest under sections 139 and 215/217 for assessment years prior to 1984-85, directing rectification. The Tribunal's interpretation of Explanation 2 to section 139(8) from 1985 clarified that interest could not be charged for assessment years 1976-77 and 1980-81. The Tribunal's decision, upheld by the High Court, emphasized the limitations on charging interest under the Income-tax Act, ruling in favor of the assessee against the Revenue. Case-Laws Income Tax Tue, 14 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34056