https://www.taxtmi.com/caselaws?id=68222 The Tribunal allowed the assessee's grounds regarding the valuation of property, disallowance of various expenses, claim of deduction under Section 80HHC, unexplained cash credits, and investment in stock. The Tribunal directed the AO to reconsider these aspects and provide a reasonable opportunity to the assessee. However, the Tribunal upheld the Revenue's contention on charging interest under Section 158BFA(1) and disallowed the set-off of losses, stating it was impermissible under Section 158BB(1). Both appeals were partly allowed, with specific directions given for each issue. en-us Thu, 31 May 2001 00:00:00 +0530 Mon, 28 Mar 2011 14:23:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68222 The Tribunal allowed the assessee's grounds regarding the valuation of property, disallowance of various expenses, claim of deduction under Section 80HHC, unexplained cash credits, and investment in stock. The Tribunal directed the AO to reconsider these aspects and provide a reasonable opportunity to the assessee. However, the Tribunal upheld the Revenue's contention on charging interest under Section 158BFA(1) and disallowed the set-off of losses, stating it was impermissible under Section 158BB(1). Both appeals were partly allowed, with specific directions given for each issue. Case-Laws Income Tax Thu, 31 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68222