https://www.taxtmi.com/caselaws?id=241706 The High Court ruled in favor of the assessee in a case involving the interpretation of sale proceeds claimed during appellate proceedings and the charging of interest under sections 234-A, 234-B, and 234-C of the Income Tax Act. The Court found that the acceptance of sale proceeds and the charging of interest must be explicitly specified by the Assessing Officer in the assessment order or computation sheets. The decision emphasized the importance of clear communication regarding the charging of interest. The Court upheld the Tribunal's decision on both issues, directing the department to proceed accordingly. en-us Thu, 09 Aug 2012 00:00:00 +0530 Mon, 30 Dec 2013 08:59:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241706 The High Court ruled in favor of the assessee in a case involving the interpretation of sale proceeds claimed during appellate proceedings and the charging of interest under sections 234-A, 234-B, and 234-C of the Income Tax Act. The Court found that the acceptance of sale proceeds and the charging of interest must be explicitly specified by the Assessing Officer in the assessment order or computation sheets. The decision emphasized the importance of clear communication regarding the charging of interest. The Court upheld the Tribunal's decision on both issues, directing the department to proceed accordingly. Case-Laws Income Tax Thu, 09 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241706