TMI Blog2001 (5) TMI 45X X X X Extracts X X X X X X X X Extracts X X X X ..... facts and in the circumstances of the case, the Tribunal is justified in law in holding that charging of interest under section 139(8) of the Income-tax Act, 1961, is misconstrued and accordingly quashing the rectification order under section 154 and deleting interest under section 139(8) for the assessment years 1984-85 and 1985-86?" The assessee-company filed its return of income on July 31, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e., from July 1 to July 30, was charged. In appeal before the Commissioner of Income-tax (Appeals), the Commissioner of Income-tax (Appeals) has set aside the order of the Assessing Officer passed under section 154 of the said Act. In appeal before the Tribunal, the Tribunal has also affirmed the order of the Commissioner of Income-tax (Appeals). Heard learned counsel for the parties. The fact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s taken the view that the meaning of "month" referred to in section 139(8) of the Income-tax Act read with rule 119A of the Income-tax Rules, 1962, means a complete month and where the month is of 31st days, if the return was filed on the 31st day of the month, no interest under section 139(8) of the Act can be charged. While deciding the issue, the tribunal has also reproduced rule 119A of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d before the completion of the month. When the month is not completed, interest cannot be charged under section 139(8) of the Act. More so, here the interest has not been charged in the regular assessment but in an order under section 154 of the Act. When two views are possible whether in a particular case the interest under section 139(8) of the Act can be charged or not. If interest has not been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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