https://www.taxtmi.com/caselaws?id=238985 The Tribunal upheld the legal validity of reopening the assessment under section 147 of the Income Tax Act, finding tangible material and a reasonable belief of income escapement. The disallowance of expenditure made by the Assessing Officer on payments to certain companies was upheld due to lack of evidence of actual services rendered. Additionally, the Tribunal directed the re-computation of interest under sections 234B and 234C. The appeal of the assessee was dismissed, affirming the AO's decisions. en-us Wed, 16 Jan 2013 00:00:00 +0530 Mon, 21 Oct 2013 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238985 The Tribunal upheld the legal validity of reopening the assessment under section 147 of the Income Tax Act, finding tangible material and a reasonable belief of income escapement. The disallowance of expenditure made by the Assessing Officer on payments to certain companies was upheld due to lack of evidence of actual services rendered. Additionally, the Tribunal directed the re-computation of interest under sections 234B and 234C. The appeal of the assessee was dismissed, affirming the AO's decisions. Case-Laws Income Tax Wed, 16 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238985