https://www.taxtmi.com/caselaws?id=55693 Interest under section 201(1A) is mandatory, and the absence of an express limitation period does not by itself invalidate the levy. However, tax-related powers must still be exercised bona fide, reasonably and within a reasonable time, consistent with the Act's time-bound scheme for other proceedings and the principle of finality. Applying that standard, prolonged inaction of more than about four years was treated as unreasonable for the earlier assessment years, so the delayed interest demands were cancelled for those years, while the levy for the later assessment year was sustained because action had been taken within a comparatively shorter and reasonable period. en-us Fri, 01 Dec 1995 00:00:00 +0530 Mon, 15 Dec 2025 13:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55693 Interest under section 201(1A) is mandatory, and the absence of an express limitation period does not by itself invalidate the levy. However, tax-related powers must still be exercised bona fide, reasonably and within a reasonable time, consistent with the Act's time-bound scheme for other proceedings and the principle of finality. Applying that standard, prolonged inaction of more than about four years was treated as unreasonable for the earlier assessment years, so the delayed interest demands were cancelled for those years, while the levy for the later assessment year was sustained because action had been taken within a comparatively shorter and reasonable period. Case-Laws Income Tax Fri, 01 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55693