https://www.taxtmi.com/caselaws?id=55514 The Tribunal upheld the withdrawal of part interest under Section 214 due to a retrospective amendment by the Finance Act of 1986, increasing the tax liability for the assessee. It determined that Section 214(1A) allowed for the reduction of interest under Section 214 upon completion of the regular assessment, including subsequent orders giving effect to appellate/revisional orders. The Tribunal found the withdrawal of interest justified under Section 154, dismissing the assessee's appeal based on various High Court decisions and the Board's Circular. en-us Tue, 08 Feb 1994 00:00:00 +0530 Sat, 27 Nov 2010 14:02:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55514 The Tribunal upheld the withdrawal of part interest under Section 214 due to a retrospective amendment by the Finance Act of 1986, increasing the tax liability for the assessee. It determined that Section 214(1A) allowed for the reduction of interest under Section 214 upon completion of the regular assessment, including subsequent orders giving effect to appellate/revisional orders. The Tribunal found the withdrawal of interest justified under Section 154, dismissing the assessee's appeal based on various High Court decisions and the Board's Circular. Case-Laws Income Tax Tue, 08 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55514