https://www.taxtmi.com/caselaws?id=151669 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. The Tribunal held that the transfer of shares occurred in the assessment year 1998-99, not 1997-98. It found the Assessing Officer's order for the assessment year 1998-99 to be legally flawed and canceled it. The Tribunal determined that the levy of interest under sections 234B and 220(2) should be adjusted based on the primary issue's resolution in favor of the assessee. The order was pronounced on December 19, 2008. en-us Fri, 19 Dec 2008 00:00:00 +0530 Thu, 16 Jun 2016 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151669 The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal. The Tribunal held that the transfer of shares occurred in the assessment year 1998-99, not 1997-98. It found the Assessing Officer's order for the assessment year 1998-99 to be legally flawed and canceled it. The Tribunal determined that the levy of interest under sections 234B and 220(2) should be adjusted based on the primary issue's resolution in favor of the assessee. The order was pronounced on December 19, 2008. Case-Laws Income Tax Fri, 19 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151669