https://www.taxtmi.com/caselaws?id=262494 The Appellate Tribunal ruled in favor of the assessee, finding the order passed under sections 143(3)/147 of the Income-tax Act, 1961 invalid and barred by limitation due to a lack of failure on the assessee's part to disclose material facts. The Tribunal also decided in favor of the assessee on the taxability of subsidies as capital receipts and did not address the legality of charging interest under section 234B, ultimately allowing the appeal based on the jurisdictional defect in the Assessing Officer's order. en-us Mon, 19 Jan 2015 00:00:00 +0530 Wed, 12 Aug 2015 06:52:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262494 The Appellate Tribunal ruled in favor of the assessee, finding the order passed under sections 143(3)/147 of the Income-tax Act, 1961 invalid and barred by limitation due to a lack of failure on the assessee's part to disclose material facts. The Tribunal also decided in favor of the assessee on the taxability of subsidies as capital receipts and did not address the legality of charging interest under section 234B, ultimately allowing the appeal based on the jurisdictional defect in the Assessing Officer's order. Case-Laws Income Tax Mon, 19 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262494