https://www.taxtmi.com/caselaws?id=214039 The tribunal upheld the assessment order's addition of Rs.37,40,568 for speculative loss under Section 73 of the Income Tax Act. The refusal to entertain the appeal on the interest levy issue under Section 234B was justified as it was not raised before the first appellate authority. The jurisdictional Commissioner correctly dismissed the revision petition seeking waiver of interest under Section 234B, citing Section 264(4)(c) which bars revisional jurisdiction when the assessment order is under challenge. The court affirmed the dismissal of the writ petition challenging the Commissioner's order, emphasizing the importance of raising all relevant issues at the appropriate appeal stages. en-us Fri, 01 Jun 2012 00:00:00 +0530 Sat, 16 Jun 2012 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214039 The tribunal upheld the assessment order's addition of Rs.37,40,568 for speculative loss under Section 73 of the Income Tax Act. The refusal to entertain the appeal on the interest levy issue under Section 234B was justified as it was not raised before the first appellate authority. The jurisdictional Commissioner correctly dismissed the revision petition seeking waiver of interest under Section 234B, citing Section 264(4)(c) which bars revisional jurisdiction when the assessment order is under challenge. The court affirmed the dismissal of the writ petition challenging the Commissioner's order, emphasizing the importance of raising all relevant issues at the appropriate appeal stages. Case-Laws Income Tax Fri, 01 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214039