https://www.taxtmi.com/caselaws?id=373904 The Gujarat High Court issued a Notice returnable on 7th January 2019 in response to the petitioner's challenge of the Assessing Officer's decision to reopen assessment based on interest paid on an unsecured loan and a loan advanced without charging interest. The court acknowledged the petitioner's arguments that the company providing the unsecured loan was not a dummy company and that the loan advanced without interest was from reserved surplus, indicating that the reopening of assessment lacked justification. The respondent was allowed to proceed with the notice but prohibited from passing any final order without prior court permission. en-us Thu, 20 Dec 2018 00:00:00 +0530 Tue, 22 Jan 2019 08:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373904 The Gujarat High Court issued a Notice returnable on 7th January 2019 in response to the petitioner's challenge of the Assessing Officer's decision to reopen assessment based on interest paid on an unsecured loan and a loan advanced without charging interest. The court acknowledged the petitioner's arguments that the company providing the unsecured loan was not a dummy company and that the loan advanced without interest was from reserved surplus, indicating that the reopening of assessment lacked justification. The respondent was allowed to proceed with the notice but prohibited from passing any final order without prior court permission. Case-Laws Income Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373904