https://www.taxtmi.com/caselaws?id=122622 The Tribunal upheld the deletion of an addition on account of fair rental value of a property, dismissed the challenge to the validity of reopening the assessment, ruled that a gift received was not taxable under section 28(iv), confirmed the levy of interest under sections 234B and 234D, and rejected the condonation of delay in filing the appeal. The Tribunal dismissed both the assessee's and the Revenue's appeals, partially allowing the cross-objection. Key points included property ownership principles, non-taxability of cash gifts, and mandatory interest levies. en-us Fri, 04 Dec 2009 00:00:00 +0530 Thu, 16 Aug 2012 10:47:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122622 The Tribunal upheld the deletion of an addition on account of fair rental value of a property, dismissed the challenge to the validity of reopening the assessment, ruled that a gift received was not taxable under section 28(iv), confirmed the levy of interest under sections 234B and 234D, and rejected the condonation of delay in filing the appeal. The Tribunal dismissed both the assessee's and the Revenue's appeals, partially allowing the cross-objection. Key points included property ownership principles, non-taxability of cash gifts, and mandatory interest levies. Case-Laws Income Tax Fri, 04 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122622