https://www.taxtmi.com/caselaws?id=69410 The Tribunal allowed the appeals for statistical purposes, setting aside the Commissioner's orders under Section 263. It directed a fresh examination of the IAC's reasons for the 'Nil Assessments.' The Tribunal upheld the validity of the reopening of assessments under Section 147(a) and deemed the provision for liquidated damages as a deduction admissible. The Commissioner was instructed to proceed considering assessments made under Section 147(a) for each year and to make a fresh decision after hearing the assessee. en-us Thu, 17 Mar 1988 00:00:00 +0530 Wed, 06 Apr 2011 16:07:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69410 The Tribunal allowed the appeals for statistical purposes, setting aside the Commissioner's orders under Section 263. It directed a fresh examination of the IAC's reasons for the 'Nil Assessments.' The Tribunal upheld the validity of the reopening of assessments under Section 147(a) and deemed the provision for liquidated damages as a deduction admissible. The Commissioner was instructed to proceed considering assessments made under Section 147(a) for each year and to make a fresh decision after hearing the assessee. Case-Laws Income Tax Thu, 17 Mar 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69410