https://www.taxtmi.com/caselaws?id=358341 The Tribunal upheld the reassessment under section 147 of the Act, rejecting the appellant's challenge due to the absence of specific objections in writing. Regarding the cessation of liability under section 41(1) of the Act, the Tribunal directed further inquiries to determine if the appellant was aware of the debt write-off before taxing it as income, emphasizing the importance of clarity and complete information. The issue of interest under sections 234B & 234C was not separately adjudicated. The appeal was allowed for statistical purposes, stressing the necessity of thorough investigation in such cases. en-us Fri, 06 Apr 2018 00:00:00 +0530 Tue, 10 Apr 2018 08:26:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358341 The Tribunal upheld the reassessment under section 147 of the Act, rejecting the appellant's challenge due to the absence of specific objections in writing. Regarding the cessation of liability under section 41(1) of the Act, the Tribunal directed further inquiries to determine if the appellant was aware of the debt write-off before taxing it as income, emphasizing the importance of clarity and complete information. The issue of interest under sections 234B & 234C was not separately adjudicated. The appeal was allowed for statistical purposes, stressing the necessity of thorough investigation in such cases. Case-Laws Income Tax Fri, 06 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358341