https://www.taxtmi.com/caselaws?id=255044 The Court ruled in favor of the appellant-assessee in the challenge against the order passed by the Income Tax Appellate Tribunal regarding the disallowance of interest under Section 57(iii) of the Income Tax Act. The Court held that once interest is allowed in a previous year without any change in conditions, it cannot be disallowed in the current year. Emphasizing the importance of consistency in the Revenue's approach, the Court allowed the appeal, finding in favor of the assessee and against the revenue. en-us Wed, 19 Nov 2014 00:00:00 +0530 Wed, 07 Jan 2015 06:43:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255044 The Court ruled in favor of the appellant-assessee in the challenge against the order passed by the Income Tax Appellate Tribunal regarding the disallowance of interest under Section 57(iii) of the Income Tax Act. The Court held that once interest is allowed in a previous year without any change in conditions, it cannot be disallowed in the current year. Emphasizing the importance of consistency in the Revenue's approach, the Court allowed the appeal, finding in favor of the assessee and against the revenue. Case-Laws Income Tax Wed, 19 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255044