https://www.taxtmi.com/caselaws?id=120599 The Tribunal dismissed both appeals by the assessee. It upheld the validity of the notice issued under section 148 of the Income-tax Act, confirmed the taxability of the unutilized amount in the Capital Gain account under section 54(2), and ruled that the levy of interest under sections 234B and 234C was mandatory and not subject to waiver due to the Assessing Officer's inaction. en-us Fri, 29 Feb 2008 00:00:00 +0530 Sat, 21 Jul 2012 16:31:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120599 The Tribunal dismissed both appeals by the assessee. It upheld the validity of the notice issued under section 148 of the Income-tax Act, confirmed the taxability of the unutilized amount in the Capital Gain account under section 54(2), and ruled that the levy of interest under sections 234B and 234C was mandatory and not subject to waiver due to the Assessing Officer's inaction. Case-Laws Income Tax Fri, 29 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120599