https://www.taxtmi.com/caselaws?id=335657 The Tribunal partly allowed the appeals filed by the assessee, directing the deletion of certain disallowances such as transaction charges and interest expenses for specific assessment years. The Tribunal dismissed the disallowance of surplus as business income instead of dividend income, upheld the disallowance of depreciation on electrical fittings, and deemed the levy of interest under Sections 234A, 234B, and 234C as mandatory. The initiation of penalty proceedings under Section 271(1)(c) was considered premature and dismissed. The Tribunal's decisions were based on detailed legal analysis and compliance with the Income-tax Act provisions. en-us Wed, 16 Nov 2016 00:00:00 +0530 Tue, 06 Dec 2016 16:26:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335657 The Tribunal partly allowed the appeals filed by the assessee, directing the deletion of certain disallowances such as transaction charges and interest expenses for specific assessment years. The Tribunal dismissed the disallowance of surplus as business income instead of dividend income, upheld the disallowance of depreciation on electrical fittings, and deemed the levy of interest under Sections 234A, 234B, and 234C as mandatory. The initiation of penalty proceedings under Section 271(1)(c) was considered premature and dismissed. The Tribunal's decisions were based on detailed legal analysis and compliance with the Income-tax Act provisions. Case-Laws Income Tax Wed, 16 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335657