https://www.taxtmi.com/caselaws?id=286646 The appeal was partly allowed, granting deductions for the refund of customs duty and foreign exchange rate fluctuation. However, the disallowance of deductions for interest income and rent received was upheld, and the depreciation rate for residential flats was confirmed. The Tribunal deemed the levy of penal interest under sections 234B, 234C, and 234D as mandatory and consequential. en-us Wed, 20 Oct 2010 00:00:00 +0530 Sat, 07 Mar 2020 11:08:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286646 The appeal was partly allowed, granting deductions for the refund of customs duty and foreign exchange rate fluctuation. However, the disallowance of deductions for interest income and rent received was upheld, and the depreciation rate for residential flats was confirmed. The Tribunal deemed the levy of penal interest under sections 234B, 234C, and 234D as mandatory and consequential. Case-Laws Income Tax Wed, 20 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286646