https://www.taxtmi.com/caselaws?id=68740 The ITAT partially allowed the appeals for both assessment years. It upheld the levy of interest under sections 234B and 234C, directing the AO to recalculate interest based on tax determined under section 143(1). The Tribunal deleted the disallowance of interest on advances to sister concerns, citing insufficient evidence of fund diversion. en-us Mon, 26 Jul 2004 00:00:00 +0530 Mon, 17 Jun 2024 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68740 The ITAT partially allowed the appeals for both assessment years. It upheld the levy of interest under sections 234B and 234C, directing the AO to recalculate interest based on tax determined under section 143(1). The Tribunal deleted the disallowance of interest on advances to sister concerns, citing insufficient evidence of fund diversion. Case-Laws Income Tax Mon, 26 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68740