Dismissing the appeal the Court held that  the Tribunal was right in holding that a fresh assessment made by the Assessing Officer to give effect to the directions of the Commissioner under section 263 setting aside the original assessment, constituted a regular assessment for purposes of section 215  of the Act. The Deputy Commissioner in exercise of power under rule 40 had held that delay in finalization of the assessment was not attributable to the assessee and therefore the assessee was not liable to pay interest under section 215 beyond the period of one year from the date of filing of return. His order had not been challenged by the Department or the assessee and as a result such order had attained finality. In the absence of challenge to the order under rule 40(1) the assessee was not entitled to waiver of interest for a period of one year and was entitled to the benefit of order passed under rule 40(1) only to the extent stated therein and was liable to pay the balance amount according to the order of the Deputy Commissioner. Order of Tribunal is affirmed. (AY. 1985-86)