https://www.taxtmi.com/caselaws?id=244477 The Tribunal upheld the reopening of assessment under section 147 of the Income Tax Act, dismissing the assessee's challenge. It allowed the assessee's appeal regarding the inapplicability of section 115JB, citing a precedent in the assessee's favor. The Tribunal also ruled in favor of the assessee on the taxation of interest on securities, holding that interest should be recognized only on a due basis for government securities. The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal in a judgment pronounced on February 17, 2014, in Chennai. en-us Mon, 17 Feb 2014 00:00:00 +0530 Thu, 27 Feb 2014 08:40:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244477 The Tribunal upheld the reopening of assessment under section 147 of the Income Tax Act, dismissing the assessee's challenge. It allowed the assessee's appeal regarding the inapplicability of section 115JB, citing a precedent in the assessee's favor. The Tribunal also ruled in favor of the assessee on the taxation of interest on securities, holding that interest should be recognized only on a due basis for government securities. The Tribunal partly allowed the assessee's appeal and dismissed the Revenue's appeal in a judgment pronounced on February 17, 2014, in Chennai. Case-Laws Income Tax Mon, 17 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244477