https://www.taxtmi.com/caselaws?id=356035 The tribunal allowed the appeal, ruling in favor of the assessee by deleting the deemed income brought to tax under section 33AB(7) of the Income Tax Act, 1961. The tribunal held that the assessee had utilized the withdrawn amounts for intended purposes, in accordance with the Tea Development Scheme, 2007, despite a slight delay. Emphasizing a liberal interpretation of incentive provisions, the tribunal concluded that the revenue's action was unjustified. The order was pronounced on 19.02.2018. en-us Mon, 19 Feb 2018 00:00:00 +0530 Thu, 22 Feb 2018 21:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356035 The tribunal allowed the appeal, ruling in favor of the assessee by deleting the deemed income brought to tax under section 33AB(7) of the Income Tax Act, 1961. The tribunal held that the assessee had utilized the withdrawn amounts for intended purposes, in accordance with the Tea Development Scheme, 2007, despite a slight delay. Emphasizing a liberal interpretation of incentive provisions, the tribunal concluded that the revenue's action was unjustified. The order was pronounced on 19.02.2018. Case-Laws Income Tax Mon, 19 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356035