https://www.taxtmi.com/caselaws?id=431521 The Tribunal allowed the appeal partially, directing the correct application of provisions for deduction under section 80HHC and interest charged under section 234B of the Act. The Tribunal instructed the Assessing Officer to reduce 90% of net interest received for calculating the deduction under section 80HHC. Regarding interest charged under section 234B, the Tribunal held that interest should have been charged up to December 2006, not March 2007, and noted a calculation error in the interest charged in different assessment orders, referring the matter back to the Assessing Officer for verification. en-us Mon, 12 Dec 2022 00:00:00 +0530 Wed, 14 Dec 2022 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431521 The Tribunal allowed the appeal partially, directing the correct application of provisions for deduction under section 80HHC and interest charged under section 234B of the Act. The Tribunal instructed the Assessing Officer to reduce 90% of net interest received for calculating the deduction under section 80HHC. Regarding interest charged under section 234B, the Tribunal held that interest should have been charged up to December 2006, not March 2007, and noted a calculation error in the interest charged in different assessment orders, referring the matter back to the Assessing Officer for verification. Case-Laws Income Tax Mon, 12 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431521