https://www.taxtmi.com/caselaws?id=377272 The Appellate Tribunal ITAT Ahmedabad partially allowed the appeal, ruling in favor of the assessee regarding the capitalization of interest but upholding the penalty for uncredited income. The penalty under section 271(c) of the Income Tax Act, 1961 for the assessment year 2012-13 was confirmed for uncredited income, while the penalty related to the capitalization of interest was set aside. en-us Thu, 31 Jan 2019 00:00:00 +0530 Wed, 27 Mar 2019 06:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377272 The Appellate Tribunal ITAT Ahmedabad partially allowed the appeal, ruling in favor of the assessee regarding the capitalization of interest but upholding the penalty for uncredited income. The penalty under section 271(c) of the Income Tax Act, 1961 for the assessment year 2012-13 was confirmed for uncredited income, while the penalty related to the capitalization of interest was set aside. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377272