https://www.taxtmi.com/caselaws?id=66697 The Tribunal allowed all appeals by the assessees, ruling in their favor on various issues. The disallowance of commission paid to Tele Data Informatics Ltd. was overturned as the Tribunal found the payment genuine. Similarly, the disallowance of interest payments to Indian Bank and Shri J.D. Italia was rejected, considering them necessary for clearing encumbrances on the property. The Tribunal also deemed the reopening of assessments under section 148 invalid, citing a lack of fresh information. Additionally, the Tribunal accepted the assessees' claim for the adoption of the fair market value of the property as Rs. 3,85,000 per ground as of 1-4-1981. en-us Fri, 30 Jul 2004 00:00:00 +0530 Sat, 05 Mar 2011 17:26:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66697 The Tribunal allowed all appeals by the assessees, ruling in their favor on various issues. The disallowance of commission paid to Tele Data Informatics Ltd. was overturned as the Tribunal found the payment genuine. Similarly, the disallowance of interest payments to Indian Bank and Shri J.D. Italia was rejected, considering them necessary for clearing encumbrances on the property. The Tribunal also deemed the reopening of assessments under section 148 invalid, citing a lack of fresh information. Additionally, the Tribunal accepted the assessees' claim for the adoption of the fair market value of the property as Rs. 3,85,000 per ground as of 1-4-1981. Case-Laws Income Tax Fri, 30 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66697