https://www.taxtmi.com/caselaws?id=342462 The Tribunal partly allowed the appeals for A.Y. 2004-05 and 2005-06. It upheld the validity of the re-assessment proceedings under Section 147, remitted the issue of construction cost valuation back to the AO for reconsideration, deleted additions related to unsecured loans and gifts, confirmed additions related to investment sources due to lack of evidence, and upheld other discrepancies due to insufficient evidence provided by the assessee. The Tribunal directed the AO to provide consequential relief concerning interest charges under Sections 234A, 234B, and 234C based on the revised assessments. en-us Fri, 28 Apr 2017 00:00:00 +0530 Fri, 05 May 2017 07:25:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342462 The Tribunal partly allowed the appeals for A.Y. 2004-05 and 2005-06. It upheld the validity of the re-assessment proceedings under Section 147, remitted the issue of construction cost valuation back to the AO for reconsideration, deleted additions related to unsecured loans and gifts, confirmed additions related to investment sources due to lack of evidence, and upheld other discrepancies due to insufficient evidence provided by the assessee. The Tribunal directed the AO to provide consequential relief concerning interest charges under Sections 234A, 234B, and 234C based on the revised assessments. Case-Laws Income Tax Fri, 28 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342462