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2006 (4) TMI 87 - HC - Income TaxInterest u/s 139(8) and under section 217(1A) for non-disclosure of income - Tribunal has rightly disallowed the interest levied under sections 139(8) and 217 in so far as the escaped income of Rs. 1,05,000 is concerned. It had rightly declined to set aside the interest levied under sections 139(8) and 217 in so far as regular assessment is concerned. Though for the purpose of limitation the order of assessment/reassessment made under section 147 would have the effect of effacing the order of regular assessment, in a given case if the original order of regular assessment is not set aside at all and in the course of assessment under section 147 only the additional income is added, it cannot be said that the interest levied under sections 139(8) and 217 which was accepted and paid by the assessee also stands effaced
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