https://www.taxtmi.com/caselaws?id=236065 The Tribunal invalidated the reopening of assessment under Section 147, citing lack of new material and reliance on existing data. Consequently, the reassessment was annulled, favoring the assessee. Various issues such as disallowance under Section 14A and deduction under Section 36(1)(viii) were decided against the assessee. However, the Tribunal allowed certain appeals, including rejecting the addition under Section 41(1) for provision write-back. Overall, the assessee's appeal for A.Y. 2004-2005 succeeded, while for A.Y. 2007-2008, it was partially allowed for statistical purposes, with the Revenue's appeal dismissed. en-us Fri, 26 Jul 2013 00:00:00 +0530 Tue, 13 Aug 2013 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236065 The Tribunal invalidated the reopening of assessment under Section 147, citing lack of new material and reliance on existing data. Consequently, the reassessment was annulled, favoring the assessee. Various issues such as disallowance under Section 14A and deduction under Section 36(1)(viii) were decided against the assessee. However, the Tribunal allowed certain appeals, including rejecting the addition under Section 41(1) for provision write-back. Overall, the assessee's appeal for A.Y. 2004-2005 succeeded, while for A.Y. 2007-2008, it was partially allowed for statistical purposes, with the Revenue's appeal dismissed. Case-Laws Income Tax Fri, 26 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236065