https://www.taxtmi.com/caselaws?id=61517 The Tribunal upheld the CIT(A)'s orders, ruling that interest charged under sections 139(8) and 215/217 of the Income-tax Act was unjustified as the seized assets were retained for adjustment against current liabilities. The Tribunal directed the Assessing Officer to recalculate interest under sections 234A and 234B based on the principles outlined in its decision. The Tribunal also rectified a typographical error in the date of the order under section 132(5) to 13-01-1988 throughout the decision. en-us Thu, 28 Mar 2002 00:00:00 +0530 Thu, 13 Jan 2011 11:01:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61517 The Tribunal upheld the CIT(A)'s orders, ruling that interest charged under sections 139(8) and 215/217 of the Income-tax Act was unjustified as the seized assets were retained for adjustment against current liabilities. The Tribunal directed the Assessing Officer to recalculate interest under sections 234A and 234B based on the principles outlined in its decision. The Tribunal also rectified a typographical error in the date of the order under section 132(5) to 13-01-1988 throughout the decision. Case-Laws Income Tax Thu, 28 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61517