https://www.taxtmi.com/caselaws?id=350294 The Tribunal upheld the CIT(A)'s decision to allow partial exemption under section 54F, disallow partial construction expenses, and confirm the disallowance of loss under section 94(7) and addition under section 2(22)(e). The levy of interest under sections 234B and 234C was deemed consequential, and the initiation of penalty proceedings under section 271(1)(c) was considered premature. Both the revenue's appeal and the assessee's cross objection were dismissed by the Tribunal. en-us Tue, 10 Oct 2017 00:00:00 +0530 Fri, 03 Nov 2017 10:24:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350294 The Tribunal upheld the CIT(A)'s decision to allow partial exemption under section 54F, disallow partial construction expenses, and confirm the disallowance of loss under section 94(7) and addition under section 2(22)(e). The levy of interest under sections 234B and 234C was deemed consequential, and the initiation of penalty proceedings under section 271(1)(c) was considered premature. Both the revenue's appeal and the assessee's cross objection were dismissed by the Tribunal. Case-Laws Income Tax Tue, 10 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350294