https://www.taxtmi.com/caselaws?id=364652 The Tribunal upheld the reopening of the assessment under section 147, finding valid material justifying the belief of escaped income. The treatment of loan waiver as income under section 41(1) was remitted to the AO for further verification due to contradictory claims by the appellant. The issue of interest under section 234B was considered consequential. The appellant's appeal was partly allowed for statistical purposes. en-us Mon, 30 Jul 2018 00:00:00 +0530 Thu, 02 Aug 2018 07:51:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364652 The Tribunal upheld the reopening of the assessment under section 147, finding valid material justifying the belief of escaped income. The treatment of loan waiver as income under section 41(1) was remitted to the AO for further verification due to contradictory claims by the appellant. The issue of interest under section 234B was considered consequential. The appellant's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Mon, 30 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364652