https://www.taxtmi.com/caselaws?id=249510 The Tribunal dismissed all appeals in ITA Nos. 1424/Hyd/2010, 457, 458, 459/Hyd/2013 (appellant's appeals) and 698/Hyd/2013 (Revenue's appeal) on May 22, 2014. The disallowance of interest claimed on partners' capital contribution and payment to retired partners was upheld due to the lack of nexus between investments and income earned. Re-assessment proceedings under section 147 r.w.s. 150(1) for the assessment year 2001-02 were invalidated as time-barred. The Tribunal ruled that without a valid assessment order, other grounds raised could not be decided, leading to the dismissal of the appeals. en-us Thu, 22 May 2014 00:00:00 +0530 Wed, 16 Jul 2014 06:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249510 The Tribunal dismissed all appeals in ITA Nos. 1424/Hyd/2010, 457, 458, 459/Hyd/2013 (appellant's appeals) and 698/Hyd/2013 (Revenue's appeal) on May 22, 2014. The disallowance of interest claimed on partners' capital contribution and payment to retired partners was upheld due to the lack of nexus between investments and income earned. Re-assessment proceedings under section 147 r.w.s. 150(1) for the assessment year 2001-02 were invalidated as time-barred. The Tribunal ruled that without a valid assessment order, other grounds raised could not be decided, leading to the dismissal of the appeals. Case-Laws Income Tax Thu, 22 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249510