https://www.taxtmi.com/caselaws?id=463648 ITAT rejected the claim for interest under s.132B, holding that no interest was payable where realisation from sale of seized assets occurred after the regular assessment; interest under s.244A was properly allowed on the refund determined on appeal. The Tribunal allowed the assessee's plea on telescoping, finding that determined undisclosed income established availability of funds that could have met unexplained expenditures, and directed that undisclosed income be set off against such expenditures with the balance undisclosed expenditure added to the assessee's income. en-us Wed, 10 Sep 2014 00:00:00 +0530 Wed, 10 Sep 2025 15:08:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463648 ITAT rejected the claim for interest under s.132B, holding that no interest was payable where realisation from sale of seized assets occurred after the regular assessment; interest under s.244A was properly allowed on the refund determined on appeal. The Tribunal allowed the assessee's plea on telescoping, finding that determined undisclosed income established availability of funds that could have met unexplained expenditures, and directed that undisclosed income be set off against such expenditures with the balance undisclosed expenditure added to the assessee's income. Case-Laws Income Tax Wed, 10 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463648