https://www.taxtmi.com/caselaws?id=181740 The Tribunal partly allowed the appeals, ruling that the Assessing Officer (AO) was not justified in applying Section 2(22)(e) of the Income Tax Act for the disputed assessment years. The levy of interest under Section 234B was upheld as mandatory and consequential. The legality of proceedings under Section 153C was upheld for the relevant assessment years, except for the assessment year 2007-08, where the ground was dismissed as not maintainable. en-us Fri, 12 Nov 2010 00:00:00 +0530 Sat, 23 Apr 2016 10:37:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181740 The Tribunal partly allowed the appeals, ruling that the Assessing Officer (AO) was not justified in applying Section 2(22)(e) of the Income Tax Act for the disputed assessment years. The levy of interest under Section 234B was upheld as mandatory and consequential. The legality of proceedings under Section 153C was upheld for the relevant assessment years, except for the assessment year 2007-08, where the ground was dismissed as not maintainable. Case-Laws Income Tax Fri, 12 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181740