https://www.taxtmi.com/caselaws?id=57010 The Tribunal allowed the assessee's appeal by deleting the disallowance of excessive interest under section 40A(2) of the Income-tax Act, 1961. The Tribunal found the disallowance unsustainable as the assessing officer did not provide sufficient evidence to justify it. Additionally, the Tribunal canceled the levy of interest under section 215, as it was found that the assessing officer did not actually levy interest under that section but merely made an observation. en-us Wed, 16 Oct 1985 00:00:00 +0530 Tue, 07 Dec 2010 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57010 The Tribunal allowed the assessee's appeal by deleting the disallowance of excessive interest under section 40A(2) of the Income-tax Act, 1961. The Tribunal found the disallowance unsustainable as the assessing officer did not provide sufficient evidence to justify it. Additionally, the Tribunal canceled the levy of interest under section 215, as it was found that the assessing officer did not actually levy interest under that section but merely made an observation. Case-Laws Income Tax Wed, 16 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57010