https://www.taxtmi.com/caselaws?id=763197 The HC ruled in favor of the assessee, setting aside the ITAT's order and allowing the appeal under Section 260A of the Income-tax Act, 1961. The HC found that the Tribunal had reversed the CIT(A)'s decision without adequate reasoning, emphasizing that interest could not be assessed on an accrual basis for the block period in question. All pending miscellaneous applications were closed, with no order as to costs. en-us Fri, 06 Dec 2024 00:00:00 +0530 Sat, 14 Dec 2024 07:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763197 The HC ruled in favor of the assessee, setting aside the ITAT's order and allowing the appeal under Section 260A of the Income-tax Act, 1961. The HC found that the Tribunal had reversed the CIT(A)'s decision without adequate reasoning, emphasizing that interest could not be assessed on an accrual basis for the block period in question. All pending miscellaneous applications were closed, with no order as to costs. Case-Laws Income Tax Fri, 06 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763197