https://www.taxtmi.com/caselaws?id=55422 The ITAT upheld the CIT (A)'s decision to delete the interest charged under section 139(8) of the IT Act, 1961. The appeal by the Revenue challenging the waiver of interest was dismissed, emphasizing the compensatory nature of interest and the CIT (A)'s discretion to delete the interest under rule 117A. The ITAT found the ITO's reasoning for imposing interest lacking and affirmed the CIT (A)'s order in full. en-us Thu, 03 May 1984 00:00:00 +0530 Sat, 27 Nov 2010 10:09:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55422 The ITAT upheld the CIT (A)'s decision to delete the interest charged under section 139(8) of the IT Act, 1961. The appeal by the Revenue challenging the waiver of interest was dismissed, emphasizing the compensatory nature of interest and the CIT (A)'s discretion to delete the interest under rule 117A. The ITAT found the ITO's reasoning for imposing interest lacking and affirmed the CIT (A)'s order in full. Case-Laws Income Tax Thu, 03 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55422