https://www.taxtmi.com/caselaws?id=195169 The HC dismissed both appeals, affirming the Tribunal's decision. It ruled the reopening of assessment u/s 147 r/w s. 148 was invalid, as the amount was taxed in a later year. Additionally, the addition of liabilities u/s 41(1) was correctly deleted, preventing double taxation, as the liabilities were genuinely taxed in the assessment year 2006-07. The Court found no substantial question of law, confirming the lower authorities' orders were lawful and without ambiguity. en-us Wed, 13 Nov 2013 00:00:00 +0530 Tue, 16 Jul 2024 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195169 The HC dismissed both appeals, affirming the Tribunal's decision. It ruled the reopening of assessment u/s 147 r/w s. 148 was invalid, as the amount was taxed in a later year. Additionally, the addition of liabilities u/s 41(1) was correctly deleted, preventing double taxation, as the liabilities were genuinely taxed in the assessment year 2006-07. The Court found no substantial question of law, confirming the lower authorities' orders were lawful and without ambiguity. Case-Laws Income Tax Wed, 13 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195169