https://www.taxtmi.com/caselaws?id=252858 The Tribunal upheld the validity of reopening the assessment under Section 147/148 of the Income Tax Act, ruling that the AO had a "reason to believe" income had escaped assessment. However, the disallowance under Section 40(a)(ia) was deemed inapplicable as the assessee did not claim any expenditure on freight payments. The Tribunal determined that the amounts received were not the assessee's income but were passed on to truck operators. As a result, the assessee's appeals were allowed, and the Revenue's appeals were dismissed as infructuous. en-us Fri, 31 Oct 2014 00:00:00 +0530 Thu, 06 Nov 2014 05:51:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252858 The Tribunal upheld the validity of reopening the assessment under Section 147/148 of the Income Tax Act, ruling that the AO had a "reason to believe" income had escaped assessment. However, the disallowance under Section 40(a)(ia) was deemed inapplicable as the assessee did not claim any expenditure on freight payments. The Tribunal determined that the amounts received were not the assessee's income but were passed on to truck operators. As a result, the assessee's appeals were allowed, and the Revenue's appeals were dismissed as infructuous. Case-Laws Income Tax Fri, 31 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252858