https://www.taxtmi.com/caselaws?id=279824 The ITAT upheld the CIT-A's decision to delete the interest charged by the AO on the assessed income, following the High Court's ruling that interest should only be levied on the income declared in the return of income. The Revenue's appeal challenging this decision was dismissed by the Supreme Court. The ITAT emphasized that the AO was not justified in charging interest on assessed income and cited similar cases where similar decisions were made in favor of the assessee. Consequently, the Revenue's appeal was dismissed. en-us Wed, 28 Feb 2018 00:00:00 +0530 Mon, 08 Apr 2019 00:39:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279824 The ITAT upheld the CIT-A's decision to delete the interest charged by the AO on the assessed income, following the High Court's ruling that interest should only be levied on the income declared in the return of income. The Revenue's appeal challenging this decision was dismissed by the Supreme Court. The ITAT emphasized that the AO was not justified in charging interest on assessed income and cited similar cases where similar decisions were made in favor of the assessee. Consequently, the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279824