https://www.taxtmi.com/caselaws?id=309127 The Tribunal allowed the assessee's appeal on the addition of deficit and excess consumption of raw materials, citing better consumption than prescribed norms. The exclusion of 90% of interest income and income from the sale of advance license was remanded for reconsideration in line with relevant court decisions. The levy of interest under sections 234A, 234B, and 234C was dismissed as the grounds were not pressed. The penalty under section 271(1)(c) was overturned due to the favorable decision on raw material consumption. The appeals were partly allowed, with some issues resolved in favor of the assessee and others remanded for further review. en-us Thu, 25 Feb 2010 00:00:00 +0530 Fri, 11 Aug 2023 16:18:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309127 The Tribunal allowed the assessee's appeal on the addition of deficit and excess consumption of raw materials, citing better consumption than prescribed norms. The exclusion of 90% of interest income and income from the sale of advance license was remanded for reconsideration in line with relevant court decisions. The levy of interest under sections 234A, 234B, and 234C was dismissed as the grounds were not pressed. The penalty under section 271(1)(c) was overturned due to the favorable decision on raw material consumption. The appeals were partly allowed, with some issues resolved in favor of the assessee and others remanded for further review. Case-Laws Income Tax Thu, 25 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309127