https://www.taxtmi.com/caselaws?id=328148 The Tribunal upheld the reopening of assessment for the assessment year 2008-09 under Section 147, dismissing the assessee's appeal. Disallowance under Section 40(a)(ia) was remitted back to the AO for verification. Disallowance under Section 14A was upheld, citing the necessity of managing strategic investments. The issue of interest paid on loans was dismissed as it was not pursued. The delay in filing the appeal for the assessment year 2009-10 was not condoned due to the assessee's negligence. Rental income was classified as business income, in line with previous decisions. The Tribunal's order partially allowed the assessee's appeal and dismissed the Revenue's appeals. en-us Wed, 13 Apr 2016 00:00:00 +0530 Fri, 27 May 2016 10:11:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328148 The Tribunal upheld the reopening of assessment for the assessment year 2008-09 under Section 147, dismissing the assessee's appeal. Disallowance under Section 40(a)(ia) was remitted back to the AO for verification. Disallowance under Section 14A was upheld, citing the necessity of managing strategic investments. The issue of interest paid on loans was dismissed as it was not pursued. The delay in filing the appeal for the assessment year 2009-10 was not condoned due to the assessee's negligence. Rental income was classified as business income, in line with previous decisions. The Tribunal's order partially allowed the assessee's appeal and dismissed the Revenue's appeals. Case-Laws Income Tax Wed, 13 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328148