https://www.taxtmi.com/caselaws?id=444688 The ITAT upheld the deduction under Section 36(1)(viia) based on the provision available at the year-end, directing the AO to exclude standard assets and restructured debt. On the interest under Section 234D, the ITAT supported the CIT(A)'s directive for verification to ensure compliance with statutory provisions. Regarding interest under Rule 119A, the ITAT found the CIT(A)'s annual computation incorrect, requiring monthly calculations, and remanded the issue to the AO for recomputation. The appeals were partly allowed for statistical purposes, with instructions for the AO to follow ITAT's findings and directions. en-us Tue, 25 Jul 2023 00:00:00 +0530 Thu, 19 Oct 2023 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444688 The ITAT upheld the deduction under Section 36(1)(viia) based on the provision available at the year-end, directing the AO to exclude standard assets and restructured debt. On the interest under Section 234D, the ITAT supported the CIT(A)'s directive for verification to ensure compliance with statutory provisions. Regarding interest under Rule 119A, the ITAT found the CIT(A)'s annual computation incorrect, requiring monthly calculations, and remanded the issue to the AO for recomputation. The appeals were partly allowed for statistical purposes, with instructions for the AO to follow ITAT's findings and directions. Case-Laws Income Tax Tue, 25 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444688