https://www.taxtmi.com/caselaws?id=212394 The court ruled in favor of the revenue in the case, allowing the appeals. It held that the disallowance of interest on interest-free advances given to sister concerns for non-business purposes was justified. Additionally, the court determined that the original assessment order's finality did not prevent reassessment proceedings on the same issues, citing relevant legal amendments and Supreme Court judgments. As a result, the court upheld the validity of the reassessment proceedings, granting the revenue's appeals and ruling against the assessee. en-us Fri, 14 Oct 2011 00:00:00 +0530 Fri, 27 Apr 2012 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212394 The court ruled in favor of the revenue in the case, allowing the appeals. It held that the disallowance of interest on interest-free advances given to sister concerns for non-business purposes was justified. Additionally, the court determined that the original assessment order's finality did not prevent reassessment proceedings on the same issues, citing relevant legal amendments and Supreme Court judgments. As a result, the court upheld the validity of the reassessment proceedings, granting the revenue's appeals and ruling against the assessee. Case-Laws Income Tax Fri, 14 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212394