https://www.taxtmi.com/caselaws?id=55286 The Tribunal upheld the validity of the Commissioner's directions under section 263, emphasizing that the ITO must adhere to the Commissioner's directives and cannot follow conflicting instructions from another authority. Additionally, the Tribunal affirmed the application of section 40A(8) in disallowing interest payments, ruling that the funds retained by the assessee constituted deposits. Consequently, the appeals filed by the assessee were rejected. en-us Tue, 11 Feb 1986 00:00:00 +0530 Thu, 25 Nov 2010 11:45:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55286 The Tribunal upheld the validity of the Commissioner's directions under section 263, emphasizing that the ITO must adhere to the Commissioner's directives and cannot follow conflicting instructions from another authority. Additionally, the Tribunal affirmed the application of section 40A(8) in disallowing interest payments, ruling that the funds retained by the assessee constituted deposits. Consequently, the appeals filed by the assessee were rejected. Case-Laws Income Tax Tue, 11 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55286