https://www.taxtmi.com/caselaws?id=215430 The Tribunal upheld the validity of the notice issued under Section 148 of the Income Tax Act, allowing reassessment based on new facts. The addition of provisions for milk can repair and bad debts was sent back to the AO for further examination with additional evidence. The non-allowance of set off for carried forward loss was dismissed, directing the AO to permit the set off as per law. The issue of grant-in-aid was also remanded for fresh examination. The appeal was partially allowed for statistical purposes, with the Tribunal considering the delay in filing due to the counsel's illness. en-us Fri, 23 Mar 2012 00:00:00 +0530 Fri, 24 May 2013 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215430 The Tribunal upheld the validity of the notice issued under Section 148 of the Income Tax Act, allowing reassessment based on new facts. The addition of provisions for milk can repair and bad debts was sent back to the AO for further examination with additional evidence. The non-allowance of set off for carried forward loss was dismissed, directing the AO to permit the set off as per law. The issue of grant-in-aid was also remanded for fresh examination. The appeal was partially allowed for statistical purposes, with the Tribunal considering the delay in filing due to the counsel's illness. Case-Laws Income Tax Fri, 23 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215430