https://www.taxtmi.com/caselaws?id=67625 The Tribunal upheld the CIT(A)'s order, dismissing all appeals by both the assessee and the Revenue. The Tribunal confirmed the initiation of proceedings under sections 147 and 148, validated the use of information obtained under section 133(6), and upheld the disallowance of depreciation claims. It also affirmed the deletion of trading additions and directed the Assessing Officer to allow consequential relief regarding interest charged under sections 234A and 234B. The Tribunal relied on precedent, notably the Supreme Court's decision in Sun Engineering Works (P.) Ltd., affirming that reassessment is limited to items of under-assessment. en-us Thu, 21 Oct 2004 00:00:00 +0530 Fri, 31 May 2024 18:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67625 The Tribunal upheld the CIT(A)'s order, dismissing all appeals by both the assessee and the Revenue. The Tribunal confirmed the initiation of proceedings under sections 147 and 148, validated the use of information obtained under section 133(6), and upheld the disallowance of depreciation claims. It also affirmed the deletion of trading additions and directed the Assessing Officer to allow consequential relief regarding interest charged under sections 234A and 234B. The Tribunal relied on precedent, notably the Supreme Court's decision in Sun Engineering Works (P.) Ltd., affirming that reassessment is limited to items of under-assessment. Case-Laws Income Tax Thu, 21 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67625