1988 (7) TMI 37

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....day of filing ? (ii) Whether, on the facts and in the circumstances of the case, the Tribunal exceeded the jurisdiction by admitting without considering the delay of the last day being the filing day of appeal for which no prayer or petition was made ? (iii) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in allowing the appeal bypassing the argument of counsel for the assessee made in respect of fraud, framing the charge in the notice under section 154 and without withdrawing the power delegated by the Income-tax Officer to his subordinate in rectifying the alleged mistake (iv) Whether, on the facts and in the circumstances of the case and on the reading of the assessment order delegating the....

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.... -------------------- Rs. 32,772 -------------------- Interest on above from July 1, 1979 to December 31, 1980, comes to Rs. 5,886. Charge interest as above and issue demand notice and challan along with the copy of the order." Against the said order of the Income-tax Officer under section 154 of the Income-tax Act, 1961, the assessee preferred an appeal before the Appellate Assistant Commissioner. The Appellate Assistant Commissioner observed as follows : "It is a fact that the Income-tax Officer has imposed penal interest under section 139(8) for the first time taking the help of section 154 and this matter is highly debatable and different courts held different Views in these circumstances. Hence, the imposition of penal i....