https://www.taxtmi.com/caselaws?id=245079 The Tribunal partly allowed the assessee's appeal for statistical purposes, permitting the deduction of interest expenditure subject to conditions set by the Special Court. The Tribunal upheld the CIT(A)'s decision regarding the computation of book profit under Section 115JB, emphasizing that interest must be an ascertained liability. The Tribunal deferred a decision on the assessment of income in another party's hands pending a Supreme Court ruling. The Tribunal upheld the deletion of interest charged under Sections 234A, 234B, and 234C, ruling in favor of the Revenue. en-us Mon, 10 Mar 2014 00:00:00 +0530 Wed, 19 Mar 2014 11:23:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245079 The Tribunal partly allowed the assessee's appeal for statistical purposes, permitting the deduction of interest expenditure subject to conditions set by the Special Court. The Tribunal upheld the CIT(A)'s decision regarding the computation of book profit under Section 115JB, emphasizing that interest must be an ascertained liability. The Tribunal deferred a decision on the assessment of income in another party's hands pending a Supreme Court ruling. The Tribunal upheld the deletion of interest charged under Sections 234A, 234B, and 234C, ruling in favor of the Revenue. Case-Laws Income Tax Mon, 10 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245079