https://www.taxtmi.com/caselaws?id=238524 The ITAT allowed the Assessee's appeal for statistical purposes regarding liability amounting to interest expenditure for AY 2007-08, directing fresh adjudication by the Ld.CIT(A). It upheld the Revenue's appeal on the deletion of interest charged under sections 234A, 234B, and 234C of the Income Tax Act, following the High Court's ruling that the levy of interest under these sections is mandatory. Additionally, the ITAT treated the additional ground raised by the Assessee regarding taxation of income as academic, deciding it in line with the Supreme Court's determination on similar cases. en-us Wed, 25 Sep 2013 00:00:00 +0530 Wed, 23 Oct 2013 22:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238524 The ITAT allowed the Assessee's appeal for statistical purposes regarding liability amounting to interest expenditure for AY 2007-08, directing fresh adjudication by the Ld.CIT(A). It upheld the Revenue's appeal on the deletion of interest charged under sections 234A, 234B, and 234C of the Income Tax Act, following the High Court's ruling that the levy of interest under these sections is mandatory. Additionally, the ITAT treated the additional ground raised by the Assessee regarding taxation of income as academic, deciding it in line with the Supreme Court's determination on similar cases. Case-Laws Income Tax Wed, 25 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238524