https://www.taxtmi.com/caselaws?id=275049 The Tribunal allowed the assessee's appeals, ruling that the assessment under Section 153A was invalid due to the absence of incriminating material. It was determined that the interest rate applied by the assessee on FCCDs was justifiable within the permissible range, leading to no adjustment. The non-speaking orders by the authorities were deemed invalid, resulting in the penalty proceedings under Section 271(1)(c) being considered illegal. en-us Tue, 29 May 2018 00:00:00 +0530 Sun, 16 Sep 2018 18:22:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275049 The Tribunal allowed the assessee's appeals, ruling that the assessment under Section 153A was invalid due to the absence of incriminating material. It was determined that the interest rate applied by the assessee on FCCDs was justifiable within the permissible range, leading to no adjustment. The non-speaking orders by the authorities were deemed invalid, resulting in the penalty proceedings under Section 271(1)(c) being considered illegal. Case-Laws Income Tax Tue, 29 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275049