https://www.taxtmi.com/caselaws?id=213321 The Tribunal upheld the reopening of the assessment under Section 147, confirmed the treatment of the revaluation loss as speculation loss, and dismissed the assessee's contentions regarding expenditure allocation. The disallowance of interest under Section 40A(2)(b) was overturned in favor of the assessee. The issue of "Vandha loss" was remanded to the Assessing Officer for further examination. The assessee's appeal was partly allowed, and the revenue's appeal was allowed for statistical purposes. en-us Fri, 09 Dec 2011 00:00:00 +0530 Wed, 11 Apr 2012 15:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213321 The Tribunal upheld the reopening of the assessment under Section 147, confirmed the treatment of the revaluation loss as speculation loss, and dismissed the assessee's contentions regarding expenditure allocation. The disallowance of interest under Section 40A(2)(b) was overturned in favor of the assessee. The issue of "Vandha loss" was remanded to the Assessing Officer for further examination. The assessee's appeal was partly allowed, and the revenue's appeal was allowed for statistical purposes. Case-Laws Income Tax Fri, 09 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213321