https://www.taxtmi.com/caselaws?id=63004 The Tribunal held that section 41(1) was not applicable to the amount of Rs. 3,50,154 received by the assessee as he did not claim the deductions initially. The interest component was deemed taxable, with the issue referred back to the Commissioner (Appeals) for quantification. The Commissioner (Appeals)'s partial relief of Rs. 1,45,000 was upheld, pending final determination. The assessee's appeal was partially allowed for statistical purposes, while the department's appeal was rejected. en-us Mon, 20 Jan 1986 00:00:00 +0530 Thu, 27 Jan 2011 12:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63004 The Tribunal held that section 41(1) was not applicable to the amount of Rs. 3,50,154 received by the assessee as he did not claim the deductions initially. The interest component was deemed taxable, with the issue referred back to the Commissioner (Appeals) for quantification. The Commissioner (Appeals)'s partial relief of Rs. 1,45,000 was upheld, pending final determination. The assessee's appeal was partially allowed for statistical purposes, while the department's appeal was rejected. Case-Laws Income Tax Mon, 20 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63004