https://www.taxtmi.com/caselaws?id=385416 The Tribunal ruled in favor of the revenue against the assessee regarding the challenge to the notice issued under section 148 of the Act, citing precedent to justify the reopening. However, the Tribunal decided in favor of the assessee against the revenue on the issue of the addition to income and reduced the amount to 6% of the disputed purchase. The judgment did not provide specific details on the challenge to the levy of interest under section 234B. The decision emphasized the significance of legal provisions and precedents in tax assessment matters. en-us Mon, 10 Jun 2019 00:00:00 +0530 Thu, 05 Sep 2019 07:31:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385416 The Tribunal ruled in favor of the revenue against the assessee regarding the challenge to the notice issued under section 148 of the Act, citing precedent to justify the reopening. However, the Tribunal decided in favor of the assessee against the revenue on the issue of the addition to income and reduced the amount to 6% of the disputed purchase. The judgment did not provide specific details on the challenge to the levy of interest under section 234B. The decision emphasized the significance of legal provisions and precedents in tax assessment matters. Case-Laws Income Tax Mon, 10 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385416