https://www.taxtmi.com/caselaws?id=257666 The Tribunal upheld the invalidity of the reassessment proceedings under section 147 of the Income-tax Act, citing lack of new facts and reliance on a mere change of opinion, following the Delhi High Court's ruling in Sita World Travels (India) Ltd. v. CIT. Additionally, the Tribunal upheld the deletion of the addition under section 40(a)(ia) due to failure to deduct TDS on freight payments, in line with the Punjab and Haryana High Court's decision in CIT v. United Rice Land Ltd. However, the Tribunal partly allowed the Revenue's appeal on the deletion of expenses related to car depreciation, car insurance, and telephone, directing specific disallowances. en-us Thu, 19 Jun 2014 00:00:00 +0530 Thu, 19 Mar 2015 07:57:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257666 The Tribunal upheld the invalidity of the reassessment proceedings under section 147 of the Income-tax Act, citing lack of new facts and reliance on a mere change of opinion, following the Delhi High Court's ruling in Sita World Travels (India) Ltd. v. CIT. Additionally, the Tribunal upheld the deletion of the addition under section 40(a)(ia) due to failure to deduct TDS on freight payments, in line with the Punjab and Haryana High Court's decision in CIT v. United Rice Land Ltd. However, the Tribunal partly allowed the Revenue's appeal on the deletion of expenses related to car depreciation, car insurance, and telephone, directing specific disallowances. Case-Laws Income Tax Thu, 19 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257666