https://www.taxtmi.com/caselaws?id=426773 The Tribunal partially allowed the appeal. It directed the AO to delete the addition concerning the excess interest spread (EIS) income, accepting the assessee's accounting method of recognizing EIS over the loan tenure. However, it dismissed the claim for deduction of education cess due to retrospective amendments in Sec.40(a)(ii). The Tribunal also condoned the 176-day delay in filing the appeal, attributing it to the Covid-19 pandemic lockdown, and proceeded with adjudication on merits. en-us Wed, 08 Jun 2022 00:00:00 +0530 Thu, 20 Jun 2024 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426773 The Tribunal partially allowed the appeal. It directed the AO to delete the addition concerning the excess interest spread (EIS) income, accepting the assessee's accounting method of recognizing EIS over the loan tenure. However, it dismissed the claim for deduction of education cess due to retrospective amendments in Sec.40(a)(ii). The Tribunal also condoned the 176-day delay in filing the appeal, attributing it to the Covid-19 pandemic lockdown, and proceeded with adjudication on merits. Case-Laws Income Tax Wed, 08 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426773