https://www.taxtmi.com/caselaws?id=218177 Disallowance of power purchase price payable was upheld because the Tribunal followed its later view in the assessee's own case, noting that the relevant facts and the Nair Committee recommendation were not fully considered in the earlier year. Credit for advance tax and self-assessment tax was allowed only after verification, with the Assessing Officer directed to examine the tax deposits and grant permissible credit. Interest under sections 234B and 234C was sustained, as the Tribunal applied the Supreme Court's interpretation of assessed tax and treated both levies as chargeable. en-us Fri, 12 Oct 2012 00:00:00 +0530 Thu, 01 Nov 2012 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218177 Disallowance of power purchase price payable was upheld because the Tribunal followed its later view in the assessee's own case, noting that the relevant facts and the Nair Committee recommendation were not fully considered in the earlier year. Credit for advance tax and self-assessment tax was allowed only after verification, with the Assessing Officer directed to examine the tax deposits and grant permissible credit. Interest under sections 234B and 234C was sustained, as the Tribunal applied the Supreme Court's interpretation of assessed tax and treated both levies as chargeable. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218177