https://www.taxtmi.com/caselaws?id=271757 The Tribunal upheld the validity of the reassessment proceedings and confirmed the disallowance of Rs. 7,02,87,355 under Section 43B. The reassessment was deemed valid as it was done to comply with the Tribunal's order in the block assessment. The Tribunal found the reopening of the assessment within the permissible time limits under Section 149 and Section 150. The dismissal of the rectification application was justified due to the validity of the reassessment proceedings. The appeal was dismissed on 20th January 2016 in Chennai. en-us Wed, 20 Jan 2016 00:00:00 +0530 Tue, 16 Feb 2016 06:17:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271757 The Tribunal upheld the validity of the reassessment proceedings and confirmed the disallowance of Rs. 7,02,87,355 under Section 43B. The reassessment was deemed valid as it was done to comply with the Tribunal's order in the block assessment. The Tribunal found the reopening of the assessment within the permissible time limits under Section 149 and Section 150. The dismissal of the rectification application was justified due to the validity of the reassessment proceedings. The appeal was dismissed on 20th January 2016 in Chennai. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271757