https://www.taxtmi.com/caselaws?id=258908 The ITAT dismissed the Revenue's appeal and partly allowed the assessee's cross-objection. The CIT(A)'s order was upheld based on the AO's remand report, resulting in the deletion of the addition of Rs. 45,387/- on account of un-reconciled interest. The initiation of penalty proceedings under section 271(1)(c) was deemed premature and dismissed, while the levy of interest under sections 234B and 234C was considered consequential and also dismissed. en-us Fri, 20 Feb 2015 00:00:00 +0530 Fri, 24 Apr 2015 08:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258908 The ITAT dismissed the Revenue's appeal and partly allowed the assessee's cross-objection. The CIT(A)'s order was upheld based on the AO's remand report, resulting in the deletion of the addition of Rs. 45,387/- on account of un-reconciled interest. The initiation of penalty proceedings under section 271(1)(c) was deemed premature and dismissed, while the levy of interest under sections 234B and 234C was considered consequential and also dismissed. Case-Laws Income Tax Fri, 20 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258908