https://www.taxtmi.com/caselaws?id=151207 The Tribunal found that the Assessing Officer did not properly invoke section 14A for reopening the assessment or in framing the reassessment. The Commissioner of Income-tax (Appeals) was deemed to have provided an untenable justification for annulling the assessment. As a result, the Tribunal set aside the order annulling the assessment and directed a fresh consideration of the issues by the Commissioner of Income-tax (Appeals), particularly focusing on the validity of the assessment reopening and the disallowance of interest expenditure related to exempt income. The appeal of the Revenue was allowed for statistical purposes. en-us Fri, 18 Dec 2009 00:00:00 +0530 Sat, 01 Jun 2013 16:12:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151207 The Tribunal found that the Assessing Officer did not properly invoke section 14A for reopening the assessment or in framing the reassessment. The Commissioner of Income-tax (Appeals) was deemed to have provided an untenable justification for annulling the assessment. As a result, the Tribunal set aside the order annulling the assessment and directed a fresh consideration of the issues by the Commissioner of Income-tax (Appeals), particularly focusing on the validity of the assessment reopening and the disallowance of interest expenditure related to exempt income. The appeal of the Revenue was allowed for statistical purposes. Case-Laws Income Tax Fri, 18 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151207