https://www.taxtmi.com/caselaws?id=358215 The AO's appeal was dismissed, and the assessee's cross-objection was partly allowed. The Tribunal ruled in favor of the assessee regarding the deletion of addition on account of retention money, addition related to unfinished contracts, and confirmation of an addition of Rs. 2.78 lakhs. The Tribunal also sided with the assessee in the disallowance of a claim of Rs. 84.86 lakhs on account of interest paid to customs authorities, stating that the interest was compensatory, not penal. The Tribunal's decision was pronounced on 04th April, 2018. en-us Wed, 04 Apr 2018 00:00:00 +0530 Sat, 07 Apr 2018 07:57:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358215 The AO's appeal was dismissed, and the assessee's cross-objection was partly allowed. The Tribunal ruled in favor of the assessee regarding the deletion of addition on account of retention money, addition related to unfinished contracts, and confirmation of an addition of Rs. 2.78 lakhs. The Tribunal also sided with the assessee in the disallowance of a claim of Rs. 84.86 lakhs on account of interest paid to customs authorities, stating that the interest was compensatory, not penal. The Tribunal's decision was pronounced on 04th April, 2018. Case-Laws Income Tax Wed, 04 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358215