https://www.taxtmi.com/caselaws?id=122494 The Tribunal set aside the reassessment proceedings initiated under section 147 as the Assessing Officer failed to provide reasons for reopening the assessment, contravening the Supreme Court's directive. The addition under section 68 regarding the redemption value of SBI Resurgent India Bond was not adjudicated due to the remand order. The disallowance of expenses claimed under 'Income from other sources' was also not decided. The majority view directed a remand back to the AO to comply with the Supreme Court's procedure, resulting in the partial allowance of the assessees' appeals for statistical purposes. en-us Fri, 05 Mar 2010 00:00:00 +0530 Tue, 14 Aug 2012 11:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122494 The Tribunal set aside the reassessment proceedings initiated under section 147 as the Assessing Officer failed to provide reasons for reopening the assessment, contravening the Supreme Court's directive. The addition under section 68 regarding the redemption value of SBI Resurgent India Bond was not adjudicated due to the remand order. The disallowance of expenses claimed under 'Income from other sources' was also not decided. The majority view directed a remand back to the AO to comply with the Supreme Court's procedure, resulting in the partial allowance of the assessees' appeals for statistical purposes. Case-Laws Income Tax Fri, 05 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122494