https://www.taxtmi.com/caselaws?id=382391 The Tribunal dismissed some grounds, allowed others, and partly allowed the appeals. The challenge to the validity of the assessment order under section 153C was dismissed due to lack of contestation by the assessee. The addition under section 41(1) for cessation of liability was deleted as it lacked incriminating material and was subject to dispute in the original assessment. The disallowance of interest expenditure under section 40A(2)(b) was also directed to be deleted as it was not based on incriminating material. en-us Fri, 28 Jun 2019 00:00:00 +0530 Mon, 01 Jul 2019 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382391 The Tribunal dismissed some grounds, allowed others, and partly allowed the appeals. The challenge to the validity of the assessment order under section 153C was dismissed due to lack of contestation by the assessee. The addition under section 41(1) for cessation of liability was deleted as it lacked incriminating material and was subject to dispute in the original assessment. The disallowance of interest expenditure under section 40A(2)(b) was also directed to be deleted as it was not based on incriminating material. Case-Laws Income Tax Fri, 28 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382391