https://www.taxtmi.com/caselaws?id=186819 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decisions on the deletion of depreciation disallowance and the levy of interest under sections 234B and 234C of the Income Tax Act 1961. The Tribunal ruled in favor of the assessee, emphasizing that the assets were used for business purposes and not disposed of, leading to the rejection of the revenue's arguments. Additionally, the Tribunal concurred with the recent High Court decision that no interest could be imposed on the assessee for failure to pay tax at source, ultimately affirming the CIT(A)'s orders on both issues. en-us Fri, 21 Aug 2009 00:00:00 +0530 Sat, 01 Oct 2016 16:11:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186819 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decisions on the deletion of depreciation disallowance and the levy of interest under sections 234B and 234C of the Income Tax Act 1961. The Tribunal ruled in favor of the assessee, emphasizing that the assets were used for business purposes and not disposed of, leading to the rejection of the revenue's arguments. Additionally, the Tribunal concurred with the recent High Court decision that no interest could be imposed on the assessee for failure to pay tax at source, ultimately affirming the CIT(A)'s orders on both issues. Case-Laws Income Tax Fri, 21 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186819