https://www.taxtmi.com/caselaws?id=242369 The Tribunal partly allowed the assessee's appeals concerning the classification of expenditure on machinery replacement and the levy of interest under section 220(2). The Tribunal held that the expenditure on machinery replacement was capital in nature, aligning with the Supreme Court's stance. Regarding interest under section 220(2), the Tribunal ruled in favor of the assessee, stating that interest should be charged from the date of the fresh assessment order. However, the Tribunal upheld the CIT(A)'s decision on interest under sections 234B and 234C, dismissing the appeal on this matter. en-us Wed, 08 May 2013 00:00:00 +0530 Tue, 14 Jan 2014 09:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242369 The Tribunal partly allowed the assessee's appeals concerning the classification of expenditure on machinery replacement and the levy of interest under section 220(2). The Tribunal held that the expenditure on machinery replacement was capital in nature, aligning with the Supreme Court's stance. Regarding interest under section 220(2), the Tribunal ruled in favor of the assessee, stating that interest should be charged from the date of the fresh assessment order. However, the Tribunal upheld the CIT(A)'s decision on interest under sections 234B and 234C, dismissing the appeal on this matter. Case-Laws Income Tax Wed, 08 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242369