https://www.taxtmi.com/caselaws?id=120141 The Tribunal dismissed both the assessee's and the department's appeals, affirming the CIT(A)'s decision. The income of the assessee-corporation was deemed taxable, not exempt under Article 289 of the Constitution of India. Additionally, the interest levied under section 216 of the Income-tax Act was rightly deleted by the CIT(A) due to the Assessing Officer's failure to issue a speaking order, as required by law. en-us Fri, 09 Jun 2006 00:00:00 +0530 Tue, 17 Jul 2012 12:03:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120141 The Tribunal dismissed both the assessee's and the department's appeals, affirming the CIT(A)'s decision. The income of the assessee-corporation was deemed taxable, not exempt under Article 289 of the Constitution of India. Additionally, the interest levied under section 216 of the Income-tax Act was rightly deleted by the CIT(A) due to the Assessing Officer's failure to issue a speaking order, as required by law. Case-Laws Income Tax Fri, 09 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120141