https://www.taxtmi.com/caselaws?id=279260 The Tribunal allowed the appeal in part for statistical purposes, confirming the orders of the Commissioner of Income Tax (Appeals) regarding the interest income earned on advances from the Government of Uttar Pradesh for assessment years 1988-89 and 1998-99. The Tribunal found sufficient evidence supporting the assessee's claim that the interest income belonged to the government and was not taxable in the assessee's hands. The issue was remanded to the Assessing Officer for fresh adjudication based on the evidence presented. Other grounds in the appeal, such as the validity of reopening assessment and disallowance of deductions, were also addressed in the final decision. en-us Wed, 22 Aug 2012 00:00:00 +0530 Sat, 09 Mar 2019 12:54:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279260 The Tribunal allowed the appeal in part for statistical purposes, confirming the orders of the Commissioner of Income Tax (Appeals) regarding the interest income earned on advances from the Government of Uttar Pradesh for assessment years 1988-89 and 1998-99. The Tribunal found sufficient evidence supporting the assessee's claim that the interest income belonged to the government and was not taxable in the assessee's hands. The issue was remanded to the Assessing Officer for fresh adjudication based on the evidence presented. Other grounds in the appeal, such as the validity of reopening assessment and disallowance of deductions, were also addressed in the final decision. Case-Laws Income Tax Wed, 22 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279260