https://www.taxtmi.com/caselaws?id=297955 The Tribunal upheld the CIT(A)'s decision to reduce the disallowance of expenses to 2.5% of the expenditure, dismissing the Revenue's appeal. The mandatory charging of interest under sections 234A, 234B, and 234C was emphasized, directing the Assessing Officer to compute interest accordingly. On the issue of unexplained investment in land, the Tribunal remitted the matter for fresh consideration, stressing the need for a detailed examination. Additional grounds by the assessee were deemed infructuous. The Revenue's appeal for the assessment year 2006-07 saw the Tribunal dismissing certain grounds and remitting others for further verification. en-us Fri, 16 Oct 2015 00:00:00 +0530 Sat, 02 Oct 2021 10:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297955 The Tribunal upheld the CIT(A)'s decision to reduce the disallowance of expenses to 2.5% of the expenditure, dismissing the Revenue's appeal. The mandatory charging of interest under sections 234A, 234B, and 234C was emphasized, directing the Assessing Officer to compute interest accordingly. On the issue of unexplained investment in land, the Tribunal remitted the matter for fresh consideration, stressing the need for a detailed examination. Additional grounds by the assessee were deemed infructuous. The Revenue's appeal for the assessment year 2006-07 saw the Tribunal dismissing certain grounds and remitting others for further verification. Case-Laws Income Tax Fri, 16 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297955