https://www.taxtmi.com/caselaws?id=327442 The Tribunal upheld the reopening of assessment under section 148 of the Income Tax Act, 1961, based on an audit objection pointing out factual errors. The Tribunal found the notice under section 148 valid and justified, emphasizing that such reopening cannot be based on an interpretation of law. The order of the Commissioner of Income Tax (Appeals) was upheld, with the Tribunal affirming the addition of Rs. 17,55,845/- on account of prior period expenses as disallowable under section 37(1) of the Act. The High Court dismissed the appeal, affirming the legality of the Income Tax Appellate Tribunal's decision. en-us Tue, 26 Apr 2016 00:00:00 +0530 Wed, 10 Aug 2016 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327442 The Tribunal upheld the reopening of assessment under section 148 of the Income Tax Act, 1961, based on an audit objection pointing out factual errors. The Tribunal found the notice under section 148 valid and justified, emphasizing that such reopening cannot be based on an interpretation of law. The order of the Commissioner of Income Tax (Appeals) was upheld, with the Tribunal affirming the addition of Rs. 17,55,845/- on account of prior period expenses as disallowable under section 37(1) of the Act. The High Court dismissed the appeal, affirming the legality of the Income Tax Appellate Tribunal's decision. Case-Laws Income Tax Tue, 26 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327442