https://www.taxtmi.com/caselaws?id=763699 The Telangana HC dismissed the assessee's appeal challenging interest charges under Section 220(2) beyond the four-year limitation period. The court held that the Tribunal and Commissioner properly verified records before passing orders. Since the assessee failed to pay the demanded amount within 30 days of the Section 154 notice, interest liability arose under Section 220(2). The court found no specific time limit for charging interest exists, and the power was exercised within reasonable time. The substantial question of law was decided in favor of the revenue. en-us Mon, 23 Dec 2024 00:00:00 +0530 Thu, 26 Dec 2024 08:45:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763699 The Telangana HC dismissed the assessee's appeal challenging interest charges under Section 220(2) beyond the four-year limitation period. The court held that the Tribunal and Commissioner properly verified records before passing orders. Since the assessee failed to pay the demanded amount within 30 days of the Section 154 notice, interest liability arose under Section 220(2). The court found no specific time limit for charging interest exists, and the power was exercised within reasonable time. The substantial question of law was decided in favor of the revenue. Case-Laws Income Tax Mon, 23 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763699