https://www.taxtmi.com/caselaws?id=122808 The Tribunal upheld the reopening of the assessment u/s 147, citing that processing a return u/s 143(1) does not equate to an assessment, following *Rajesh Jhaveri Stock Brokers (P.) Ltd*. The non-deduction of the dissolved partnership firm's loss against other income was upheld, as the relevant sections did not permit it. However, the disallowed brokerage expense for property sale was allowed due to its common nature. The interest charges under u/s 234B and 234C were to be recalculated in line with the Tribunal's decision. en-us Fri, 18 Sep 2009 00:00:00 +0530 Fri, 17 Aug 2012 13:34:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122808 The Tribunal upheld the reopening of the assessment u/s 147, citing that processing a return u/s 143(1) does not equate to an assessment, following *Rajesh Jhaveri Stock Brokers (P.) Ltd*. The non-deduction of the dissolved partnership firm's loss against other income was upheld, as the relevant sections did not permit it. However, the disallowed brokerage expense for property sale was allowed due to its common nature. The interest charges under u/s 234B and 234C were to be recalculated in line with the Tribunal's decision. Case-Laws Income Tax Fri, 18 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122808