https://www.taxtmi.com/caselaws?id=214604 The ITAT, Bangalore, condoned a one-day delay in filing the appeal for Assessment Year 2006-07, admitting the appeal for hearing. Disallowances made by the Assessing Officer for A.Y. 2006-07 were partially upheld, with the issue of an undisclosed asset remitted back for re-examination. The addition of Rs. 4,77,120 as an undisclosed asset based on a new car purchase was found to lack thorough examination, leading to a directive for re-evaluation. The charging of interest under section 234B was upheld as mandatory, with a direction for the Assessing Officer to recalculate the interest. The appeal was partially allowed, with certain issues remitted for further review. en-us Tue, 29 May 2012 00:00:00 +0530 Mon, 09 Jul 2012 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214604 The ITAT, Bangalore, condoned a one-day delay in filing the appeal for Assessment Year 2006-07, admitting the appeal for hearing. Disallowances made by the Assessing Officer for A.Y. 2006-07 were partially upheld, with the issue of an undisclosed asset remitted back for re-examination. The addition of Rs. 4,77,120 as an undisclosed asset based on a new car purchase was found to lack thorough examination, leading to a directive for re-evaluation. The charging of interest under section 234B was upheld as mandatory, with a direction for the Assessing Officer to recalculate the interest. The appeal was partially allowed, with certain issues remitted for further review. Case-Laws Income Tax Tue, 29 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214604