1986 (1) TMI 33 - HC - Income Tax

Summary

The High Court of Karnataka quashed the interest levy of Rs. 8,463 under section 139(8) of the Income-tax Act for the assessment year 1981-82 in a case where the petitioner did not file the return on time. The court held that interest cannot be levied in proceedings under section 147(a) of the Act, based on a previous ruling. The court made the rule absolute and directed parties to bear their own costs.