https://www.taxtmi.com/caselaws?id=389524 The Tribunal upheld the validity of reopening the assessment under Section 147 of the Income Tax Act, dismissing the assessee's challenge. It also ruled in favor of the assessee regarding the disallowance of interest expenditure and other expenses, the addition on account of an unexplained loan, and the addition on account of low household withdrawals. The Tribunal found the reassessment proceedings valid and the additions unjustified, supporting the decisions of the CIT(A) on all issues. en-us Mon, 02 Dec 2019 00:00:00 +0530 Tue, 10 Dec 2019 13:20:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389524 The Tribunal upheld the validity of reopening the assessment under Section 147 of the Income Tax Act, dismissing the assessee's challenge. It also ruled in favor of the assessee regarding the disallowance of interest expenditure and other expenses, the addition on account of an unexplained loan, and the addition on account of low household withdrawals. The Tribunal found the reassessment proceedings valid and the additions unjustified, supporting the decisions of the CIT(A) on all issues. Case-Laws Income Tax Mon, 02 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389524