https://www.taxtmi.com/caselaws?id=273089 The Tribunal upheld the Commissioner of Income Tax's decision to disallow the deduction under Section 80-IC for interest income not directly linked to manufacturing activity. Additionally, the Tribunal supported the cancellation of the original assessment order and direction for reassessment, citing errors prejudicial to Revenue's interests. The Tribunal emphasized the importance of thorough investigation by the Assessing Officer and alignment of assessment decisions with legal principles, ultimately dismissing the appeal. en-us Wed, 28 Jan 2015 00:00:00 +0530 Tue, 05 Jun 2018 07:49:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273089 The Tribunal upheld the Commissioner of Income Tax's decision to disallow the deduction under Section 80-IC for interest income not directly linked to manufacturing activity. Additionally, the Tribunal supported the cancellation of the original assessment order and direction for reassessment, citing errors prejudicial to Revenue's interests. The Tribunal emphasized the importance of thorough investigation by the Assessing Officer and alignment of assessment decisions with legal principles, ultimately dismissing the appeal. Case-Laws Income Tax Wed, 28 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273089