https://www.taxtmi.com/caselaws?id=237661 The Karnataka High Court allowed the appeal, setting aside the orders of the Assessing Officer, Commissioner of Income Tax(Appeals), and the Income Tax Appellate Tribunal. The court remanded the matter to the Assessing Officer for fresh consideration regarding unexplained investment, expenses, building costs, and interest incurred by the assessee in the transport business for the assessment year 2003-2004. The court emphasized the need for proper assessment and an opportunity for the assessee to explain the expenditure incurred during the previous year. en-us Wed, 28 Aug 2013 00:00:00 +0530 Fri, 04 Oct 2013 01:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237661 The Karnataka High Court allowed the appeal, setting aside the orders of the Assessing Officer, Commissioner of Income Tax(Appeals), and the Income Tax Appellate Tribunal. The court remanded the matter to the Assessing Officer for fresh consideration regarding unexplained investment, expenses, building costs, and interest incurred by the assessee in the transport business for the assessment year 2003-2004. The court emphasized the need for proper assessment and an opportunity for the assessee to explain the expenditure incurred during the previous year. Case-Laws Income Tax Wed, 28 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237661