https://www.taxtmi.com/caselaws?id=277267 The Court partially decided in favor of the assessee on Issue 1, ruling that the interest income should be treated as income from other sources but allowed for deductions. However, on Issue 2, the Court sided with the department, emphasizing the automatic imposition of interest under Sections 234-B and 234-C when advance tax payments fall short. The judgment clarified the treatment of interest income under Section 80 HHC and the mandatory nature of interest levy in tax assessments, ultimately disposing of the appeal. en-us Wed, 05 Jul 2017 00:00:00 +0530 Fri, 30 Nov 2018 06:34:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277267 The Court partially decided in favor of the assessee on Issue 1, ruling that the interest income should be treated as income from other sources but allowed for deductions. However, on Issue 2, the Court sided with the department, emphasizing the automatic imposition of interest under Sections 234-B and 234-C when advance tax payments fall short. The judgment clarified the treatment of interest income under Section 80 HHC and the mandatory nature of interest levy in tax assessments, ultimately disposing of the appeal. Case-Laws Income Tax Wed, 05 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277267