https://www.taxtmi.com/caselaws?id=63293 The appeals by the Revenue and cross-objections by the assessee were partly allowed for statistical purposes. The Special Bench directed the AO to re-evaluate specific issues, including the classification of interest income on FDRs, estimation of business income from civil construction, and allowance of depreciation and interest on salary paid to partners, ensuring alignment with judicial precedents and past assessments. The AO was instructed to provide consequential relief regarding interest based on the final income determination. The decision emphasized the need for reasonable estimation and adherence to established legal standards. en-us Thu, 30 Nov 2006 00:00:00 +0530 Thu, 29 Feb 2024 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63293 The appeals by the Revenue and cross-objections by the assessee were partly allowed for statistical purposes. The Special Bench directed the AO to re-evaluate specific issues, including the classification of interest income on FDRs, estimation of business income from civil construction, and allowance of depreciation and interest on salary paid to partners, ensuring alignment with judicial precedents and past assessments. The AO was instructed to provide consequential relief regarding interest based on the final income determination. The decision emphasized the need for reasonable estimation and adherence to established legal standards. Case-Laws Income Tax Thu, 30 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63293