https://www.taxtmi.com/caselaws?id=11687 The High Court set aside all previous orders and remitted the matter to the assessing officer for reconsideration based on legal principles. The appellant, a bank, sought to set off interest income from securities against business losses. The Tribunal upheld the assessing officer's decision, emphasizing the need for proof on the nature of securities and interest income. The High Court disagreed with the Tribunal's decision, criticizing the failure to consider factual details and imposed a penalty on the appellant for delays in the legal process. The matter was remitted for fresh assessment, and a penalty was directed to be paid to the Kerala Legal Services Authority. en-us Thu, 31 Oct 2002 00:00:00 +0530 Fri, 05 Feb 2010 19:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11687 The High Court set aside all previous orders and remitted the matter to the assessing officer for reconsideration based on legal principles. The appellant, a bank, sought to set off interest income from securities against business losses. The Tribunal upheld the assessing officer's decision, emphasizing the need for proof on the nature of securities and interest income. The High Court disagreed with the Tribunal's decision, criticizing the failure to consider factual details and imposed a penalty on the appellant for delays in the legal process. The matter was remitted for fresh assessment, and a penalty was directed to be paid to the Kerala Legal Services Authority. Case-Laws Income Tax Thu, 31 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11687