https://www.taxtmi.com/caselaws?id=121475 The ITAT dismissed the revenue's appeal and allowed the assessee's appeal. It ruled that the premium payable on secured premium notes is deductible under Section 36(1)(iii), disallowance of expenses related to exempt income should be restricted as per the CIT(A)'s order, and the reassessment proceedings under Section 147 read with Section 148 were invalid. en-us Thu, 16 Apr 2009 00:00:00 +0530 Thu, 06 Jun 2013 16:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121475 The ITAT dismissed the revenue's appeal and allowed the assessee's appeal. It ruled that the premium payable on secured premium notes is deductible under Section 36(1)(iii), disallowance of expenses related to exempt income should be restricted as per the CIT(A)'s order, and the reassessment proceedings under Section 147 read with Section 148 were invalid. Case-Laws Income Tax Thu, 16 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121475