1994 (7) TMI 14 - HC - Income Tax

Summary

The High Court of Rajasthan held that an assessment completed under section 143(3) in response to a notice under section 148 is considered a reassessment, not a regular assessment. Therefore, interest charged under section 217 cannot be applied in such cases. The Income-tax Appellate Tribunal's decision to delete the interest charged under section 217 was deemed legally justified.