https://www.taxtmi.com/caselaws?id=238464 The Tribunal ruled in favor of the assessee in appeals related to the disallowance of discounting charges/interest and interest on call money for the assessment year 1997-1998. The Tribunal upheld the CIT(A)'s decisions, emphasizing the necessity for the AO to consider evidence and legal precedents. The penalties under section 271(1)(c) were also deleted as the disallowances were overturned. All four appeals by Revenue were dismissed, affirming the assessee's position on the disputed issues. en-us Wed, 25 Sep 2013 00:00:00 +0530 Fri, 09 Sep 2022 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238464 The Tribunal ruled in favor of the assessee in appeals related to the disallowance of discounting charges/interest and interest on call money for the assessment year 1997-1998. The Tribunal upheld the CIT(A)'s decisions, emphasizing the necessity for the AO to consider evidence and legal precedents. The penalties under section 271(1)(c) were also deleted as the disallowances were overturned. All four appeals by Revenue were dismissed, affirming the assessee's position on the disputed issues. Case-Laws Income Tax Wed, 25 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238464