1984 (6) TMI 130

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....50 (Mds)/1983. The common contention of the assessee in these appeals is that the AAC should have cancelled the amounts of interest under section 139(8) levied by the ITO on the assessee firms. In the case of Narayana Nadar & Brothers the ITO had granted interest under section 214 on excess advance tax paid, but at the same time levied interest of Rs. 1,477 under section 139(8) treating the assess....

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....ibunal dated 21st October, 1983 in Income-tax Appeal No. 198 (Jp)/1982 in the case of ITO v. Lachmandas Raghunath Das Parihar. 6 ITD 474 (Jp)(SB) in which it was held that interest under section 139(8) can be levied on the registered firm treating it as an URF under Explanation 2 thereto only if there is tax payable on the total income as determined on regular assessment after taking into account ....