https://www.taxtmi.com/caselaws?id=64743 The appeal was allowed in part, with the disallowance of finance charges set aside for fresh consideration. The gifts made to the Karta's daughters' children were deemed valid, leading to no inclusion of interest on the gifted amount in the appellant's income. The ground against the levy of interest under s. 215 of the IT Act was rejected. en-us Thu, 04 May 1989 00:00:00 +0530 Wed, 09 Feb 2011 16:01:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64743 The appeal was allowed in part, with the disallowance of finance charges set aside for fresh consideration. The gifts made to the Karta's daughters' children were deemed valid, leading to no inclusion of interest on the gifted amount in the appellant's income. The ground against the levy of interest under s. 215 of the IT Act was rejected. Case-Laws Income Tax Thu, 04 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64743