https://www.taxtmi.com/caselaws?id=178634 The Tribunal dismissed the appeal, upholding the CIT(A)'s findings regarding the excessive interest charged under Sections 234A and 234B of the Income Tax Act, 1961. The Tribunal found that the interest charged was mandatory and compensatory, not penal, in nature. The assessee's arguments citing judicial precedents were deemed without merit, leading to the dismissal of the appeal on January 23, 2015. en-us Fri, 23 Jan 2015 00:00:00 +0530 Wed, 10 Feb 2016 08:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178634 The Tribunal dismissed the appeal, upholding the CIT(A)'s findings regarding the excessive interest charged under Sections 234A and 234B of the Income Tax Act, 1961. The Tribunal found that the interest charged was mandatory and compensatory, not penal, in nature. The assessee's arguments citing judicial precedents were deemed without merit, leading to the dismissal of the appeal on January 23, 2015. Case-Laws Income Tax Fri, 23 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178634