https://www.taxtmi.com/caselaws?id=264736 The ITAT Mumbai dismissed the challenge on the validity of reopening the assessment under section 147, finding the AO had a reasonable belief based on prior confirmed additions. The disallowance of bad debts under section 36(1)(vii) was remanded for reconsideration in light of the T.R.F. Ltd. case, emphasizing no need to prove irrecoverability. Regarding disallowance under section 14A for additional interest expenditure, the matter was remanded for reassessment based on the assessee's submissions and relevant legal precedents, partially allowing the appeal for statistical purposes. en-us Wed, 08 Jul 2015 00:00:00 +0530 Wed, 30 Sep 2015 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264736 The ITAT Mumbai dismissed the challenge on the validity of reopening the assessment under section 147, finding the AO had a reasonable belief based on prior confirmed additions. The disallowance of bad debts under section 36(1)(vii) was remanded for reconsideration in light of the T.R.F. Ltd. case, emphasizing no need to prove irrecoverability. Regarding disallowance under section 14A for additional interest expenditure, the matter was remanded for reassessment based on the assessee's submissions and relevant legal precedents, partially allowing the appeal for statistical purposes. Case-Laws Income Tax Wed, 08 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264736