https://www.taxtmi.com/caselaws?id=174916 The Tribunal partly allowed ITA No. 1464 & 1465/Del/2010, allowed ITA No. 1534 & 1535/Del/2010, and dismissed ITA No. 2303/Del/2010. Reopening of assessments for 2002-03 and 2003-04 was justified, while for 2004-05 and 2005-06, it was quashed due to being based on a change of opinion. Deduction of interest expenses under Section 24(b) was allowed as funds were utilized for construction purposes. Capital gains tax on retirement of partner was not applicable as no distribution of assets occurred. en-us Mon, 31 Oct 2011 00:00:00 +0530 Tue, 19 Sep 2017 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174916 The Tribunal partly allowed ITA No. 1464 & 1465/Del/2010, allowed ITA No. 1534 & 1535/Del/2010, and dismissed ITA No. 2303/Del/2010. Reopening of assessments for 2002-03 and 2003-04 was justified, while for 2004-05 and 2005-06, it was quashed due to being based on a change of opinion. Deduction of interest expenses under Section 24(b) was allowed as funds were utilized for construction purposes. Capital gains tax on retirement of partner was not applicable as no distribution of assets occurred. Case-Laws Income Tax Mon, 31 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174916