1987 (8) TMI 27

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....e Income-tax Act, 1961, is at the instance of the Revenue to decide the following question of law "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in directing the Appellate Assistant Commissioner of Income-tax to entertain an appeal against levy of interest under section 139(8) of the Income-tax Act, 1961 ? " The relevant assessment year is 1973-74. Th....

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....hear the appeal. Aggrieved by the view taken by the Tribunal, the Revenue sought this reference for deciding the above question of law. It is well settled and no longer in controversy that at least in the quantum appeal against the order of assessment, the assessee can also assail the levy of penal interest in addition to assailing the liability to be taxed according to the assessment order. Re....