https://www.taxtmi.com/caselaws?id=330132 The assessee's appeal for assessment years 2008-09 and 2009-10 was allowed, while the Revenue's appeal for the year 2009-10 was dismissed. The ITAT upheld the assessee's contentions regarding the validity of reopening assessment, increase in sales consideration, enhancement of income, treatment of interest income from fixed deposits, and correctness of income reduction for subsequent assessment year. The ITAT directed the AO to delete the enhanced amounts and reduce the income assessed in the preceding year. The order was pronounced on 31.05.2016. en-us Tue, 31 May 2016 00:00:00 +0530 Tue, 19 Jul 2016 11:49:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330132 The assessee's appeal for assessment years 2008-09 and 2009-10 was allowed, while the Revenue's appeal for the year 2009-10 was dismissed. The ITAT upheld the assessee's contentions regarding the validity of reopening assessment, increase in sales consideration, enhancement of income, treatment of interest income from fixed deposits, and correctness of income reduction for subsequent assessment year. The ITAT directed the AO to delete the enhanced amounts and reduce the income assessed in the preceding year. The order was pronounced on 31.05.2016. Case-Laws Income Tax Tue, 31 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330132