https://www.taxtmi.com/caselaws?id=383627 The High Court upheld the validity of the reassessment under Section 147 of the Income-tax Act, 1961, based on tangible material discovered during a subsequent assessment year. The court dismissed the appeal, emphasizing the need for valid grounds for reassessment. Additionally, the appellant was denied relief under Section 80 IA of the Act for AMC charges, other income, and interest income, as their arguments lacked substantiation and were not raised earlier. The court affirmed the Tribunal's decision, rejecting the appellant's claims and answering the substantial questions of law against them. en-us Thu, 11 Jul 2019 00:00:00 +0530 Fri, 13 Dec 2019 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383627 The High Court upheld the validity of the reassessment under Section 147 of the Income-tax Act, 1961, based on tangible material discovered during a subsequent assessment year. The court dismissed the appeal, emphasizing the need for valid grounds for reassessment. Additionally, the appellant was denied relief under Section 80 IA of the Act for AMC charges, other income, and interest income, as their arguments lacked substantiation and were not raised earlier. The court affirmed the Tribunal's decision, rejecting the appellant's claims and answering the substantial questions of law against them. Case-Laws Income Tax Thu, 11 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383627