https://www.taxtmi.com/caselaws?id=371701 The High Court dismissed the tax appeals after addressing the validity of reassessment proceedings and the merits of disallowance under Section 36(1)(iii) of the Income Tax Act, 1961. The Court found that even if the reassessment was valid, the Revenue lacked an arguable case on merit. Additionally, the Court dismissed the appeals as the disallowance made by the Assessing Officer was deemed unjustified based on factual findings regarding the availability of interest-free funds. en-us Tue, 04 Dec 2018 00:00:00 +0530 Sat, 08 Dec 2018 06:38:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371701 The High Court dismissed the tax appeals after addressing the validity of reassessment proceedings and the merits of disallowance under Section 36(1)(iii) of the Income Tax Act, 1961. The Court found that even if the reassessment was valid, the Revenue lacked an arguable case on merit. Additionally, the Court dismissed the appeals as the disallowance made by the Assessing Officer was deemed unjustified based on factual findings regarding the availability of interest-free funds. Case-Laws Income Tax Tue, 04 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371701