https://www.taxtmi.com/caselaws?id=333691 The Tribunal upheld the assessee's position on corpus donations, the applicability of the maximum marginal rate of tax, and the advance given to Gopisetty Mallaiah & Co. The AO's detailed examination of these issues was deemed sufficient, rejecting the CIT's attempt to revise the assessment based on these grounds. However, the Tribunal agreed with the CIT on the discrepancy in income from house property, supporting the revision of the assessment order in that regard. The appeals were partly allowed, adjusting the assessment only for the house property income issue while dismissing the CIT's contentions on other matters. en-us Fri, 26 Aug 2016 00:00:00 +0530 Fri, 21 Oct 2016 08:15:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333691 The Tribunal upheld the assessee's position on corpus donations, the applicability of the maximum marginal rate of tax, and the advance given to Gopisetty Mallaiah & Co. The AO's detailed examination of these issues was deemed sufficient, rejecting the CIT's attempt to revise the assessment based on these grounds. However, the Tribunal agreed with the CIT on the discrepancy in income from house property, supporting the revision of the assessment order in that regard. The appeals were partly allowed, adjusting the assessment only for the house property income issue while dismissing the CIT's contentions on other matters. Case-Laws Income Tax Fri, 26 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333691