https://www.taxtmi.com/highlights?id=47238 Re-assessment u/s 147 - unexplained borrowal of funds as well as deployment of such funds - disallowance u/s 36(1)(iii) - no original assessment u/s 143(3) hence the restriction imposed by the proviso to Section 147 will not come to the rescue - ITAT after considering financial statements, the concept of same management and chain holding of shares and tax adjustments, agreed with the CIT(A)'s findings - no substantial question of law arises - reassessment upheld en-us Mon, 17 Jun 2019 07:13:21 +0530 Sun, 16 Jun 2019 08:20:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47238 Re-assessment u/s 147 - unexplained borrowal of funds as well as deployment of such funds - disallowance u/s 36(1)(iii) - no original assessment u/s 143(3) hence the restriction imposed by the proviso to Section 147 will not come to the rescue - ITAT after considering financial statements, the concept of same management and chain holding of shares and tax adjustments, agreed with the CIT(A)'s findings - no substantial question of law arises - reassessment upheld Highlights Income Tax Mon, 17 Jun 2019 07:13:21 +0530 https://www.taxtmi.com/highlights?id=47238