HC dismissed the appeal. The assessee is liable to pay interest u/s 220(2) beyond the four-year period...

The High Court dismissed the appeal, holding the assessee liable to pay interest under Section 220(2) of the Income Tax Act beyond the four-year period from the assessment date, as stipulated by Section 154. The court determined that the assessee did not remit the due amount within 30 days of the demand notice issued under Section 154. It was concluded that there is no specific time limit for imposing interest, and the authority acted within a reasonable timeframe. The substantial question of law was resolved in favor of the revenue authorities. .....

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