https://www.taxtmi.com/caselaws?id=242633 The Tribunal upheld the Assessing Officer's decision to disallow broken period interest on a protective basis, rejecting the Commissioner of Income Tax's finding that the A.O.'s orders were erroneous. The Tribunal agreed with the A.O.'s rationale, supported by legal precedents, emphasizing that protective assessments should not create alternative assessments within one. Consequently, the Tribunal set aside the CIT's orders and restored those of the A.O., affirming the validity of the original assessments for the relevant years. en-us Fri, 14 Jun 2013 00:00:00 +0530 Sun, 19 Jan 2014 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242633 The Tribunal upheld the Assessing Officer's decision to disallow broken period interest on a protective basis, rejecting the Commissioner of Income Tax's finding that the A.O.'s orders were erroneous. The Tribunal agreed with the A.O.'s rationale, supported by legal precedents, emphasizing that protective assessments should not create alternative assessments within one. Consequently, the Tribunal set aside the CIT's orders and restored those of the A.O., affirming the validity of the original assessments for the relevant years. Case-Laws Income Tax Fri, 14 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242633