https://www.taxtmi.com/caselaws?id=283372 The Tribunal allowed the assessee's appeal, quashing the reassessment proceedings due to lack of fresh material for reopening. The issue of Broken Period Interest was dismissed as academic. The Tribunal upheld that Section 115JB does not apply to banking companies and directed a fresh computation of interest payable under Section 244A in accordance with legal precedent, dismissing the Revenue's appeal. en-us Fri, 25 Jan 2019 00:00:00 +0530 Fri, 20 Sep 2019 12:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283372 The Tribunal allowed the assessee's appeal, quashing the reassessment proceedings due to lack of fresh material for reopening. The issue of Broken Period Interest was dismissed as academic. The Tribunal upheld that Section 115JB does not apply to banking companies and directed a fresh computation of interest payable under Section 244A in accordance with legal precedent, dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 25 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283372