https://www.taxtmi.com/caselaws?id=249392 The Tribunal dismissed the Department's appeals for the assessment years 2004-05, 2005-06, and 2006-07, upholding the CIT(A)'s decisions on both the validity of the reassessment under Section 147 and the deletion of the addition on account of excess interest claim. The Tribunal concluded that the reassessment proceedings were not justified and that the interest expenditure claimed by the assessee was allowable as a revenue expenditure. en-us Fri, 27 Jun 2014 00:00:00 +0530 Sat, 12 Jul 2014 19:01:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249392 The Tribunal dismissed the Department's appeals for the assessment years 2004-05, 2005-06, and 2006-07, upholding the CIT(A)'s decisions on both the validity of the reassessment under Section 147 and the deletion of the addition on account of excess interest claim. The Tribunal concluded that the reassessment proceedings were not justified and that the interest expenditure claimed by the assessee was allowable as a revenue expenditure. Case-Laws Income Tax Fri, 27 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249392