https://www.taxtmi.com/caselaws?id=247510 The High Court upheld the withdrawal of interest under section 244(1) of the Income Tax Act by the Assessing Officer, following subsequent appellate orders affecting the tax liability of the assessee. Citing legal precedents, including the Supreme Court's decision in "Modi Industries Ltd. Vs. CIT," the court emphasized that interest can be withdrawn when the appellate order impacts the tax liability. The judgment underscores the significance of aligning with established legal principles in determining the validity of interest withdrawal based on the outcome of appeals. The appeal was dismissed as no substantial question of law was found for adjudication. en-us Fri, 02 May 2014 00:00:00 +0530 Wed, 14 May 2014 13:03:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247510 The High Court upheld the withdrawal of interest under section 244(1) of the Income Tax Act by the Assessing Officer, following subsequent appellate orders affecting the tax liability of the assessee. Citing legal precedents, including the Supreme Court's decision in "Modi Industries Ltd. Vs. CIT," the court emphasized that interest can be withdrawn when the appellate order impacts the tax liability. The judgment underscores the significance of aligning with established legal principles in determining the validity of interest withdrawal based on the outcome of appeals. The appeal was dismissed as no substantial question of law was found for adjudication. Case-Laws Income Tax Fri, 02 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247510