https://www.taxtmi.com/caselaws?id=221817 The court dismissed the income-tax appeal against the order of the Income-tax Appellate Tribunal for the assessment year 1988-89. The Tribunal partially allowed appeals from both the Department and the assessee, focusing on the correctness of deleting additions related to unexplained share capital and share application money. The court upheld the Tribunal's decisions, citing legal precedents, including the Supreme Court's rulings in Steller Investment and Lovely Exports. The Tribunal found that a specific order for charging interest under sections 215/217 of the Income-tax Act is necessary, emphasizing the importance of a clear directive from the Assessing Officer. en-us Thu, 26 Jul 2012 00:00:00 +0530 Mon, 01 Apr 2013 08:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221817 The court dismissed the income-tax appeal against the order of the Income-tax Appellate Tribunal for the assessment year 1988-89. The Tribunal partially allowed appeals from both the Department and the assessee, focusing on the correctness of deleting additions related to unexplained share capital and share application money. The court upheld the Tribunal's decisions, citing legal precedents, including the Supreme Court's rulings in Steller Investment and Lovely Exports. The Tribunal found that a specific order for charging interest under sections 215/217 of the Income-tax Act is necessary, emphasizing the importance of a clear directive from the Assessing Officer. Case-Laws Income Tax Thu, 26 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221817