https://www.taxtmi.com/caselaws?id=262697 The High Court upheld the validity of the reassessment proceedings under Section 147 of the Income Tax Act, allowing for the assessment of "any other income" even if no addition was made initially. The Court remanded the case back to the Tribunal for further consideration on the merits, siding with the Revenue in the dispute over the disallowance of compensation paid for vacating premises. The Tribunal's decision to invalidate the reassessment was overturned, emphasizing the independent reading of the relevant sections of the Act. en-us Mon, 27 Jul 2015 00:00:00 +0530 Tue, 18 Aug 2015 06:48:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262697 The High Court upheld the validity of the reassessment proceedings under Section 147 of the Income Tax Act, allowing for the assessment of "any other income" even if no addition was made initially. The Court remanded the case back to the Tribunal for further consideration on the merits, siding with the Revenue in the dispute over the disallowance of compensation paid for vacating premises. The Tribunal's decision to invalidate the reassessment was overturned, emphasizing the independent reading of the relevant sections of the Act. Case-Laws Income Tax Mon, 27 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262697