https://www.taxtmi.com/caselaws?id=238713 The Tribunal was upheld in disallowing fresh claims made by the appellant in response to a notice under section 148 of the Income-tax Act, citing that reassessment proceedings do not permit new claims. Deductions on interest income and liquor sales were denied, following the Supreme Court's decision in Sun Engineering Works. However, the deduction claimed on income from consumer goods sales was allowed as the goods fell within the specified category under section 80P(2). The case was disposed of with the first substantial question of law favoring the Revenue and the second partially in favor of the Revenue and partially in favor of the assessee. en-us Mon, 01 Jul 2013 00:00:00 +0530 Wed, 30 Oct 2013 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238713 The Tribunal was upheld in disallowing fresh claims made by the appellant in response to a notice under section 148 of the Income-tax Act, citing that reassessment proceedings do not permit new claims. Deductions on interest income and liquor sales were denied, following the Supreme Court's decision in Sun Engineering Works. However, the deduction claimed on income from consumer goods sales was allowed as the goods fell within the specified category under section 80P(2). The case was disposed of with the first substantial question of law favoring the Revenue and the second partially in favor of the Revenue and partially in favor of the assessee. Case-Laws Income Tax Mon, 01 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238713