https://www.taxtmi.com/caselaws?id=389615 The Tribunal upheld the reopening of assessment under Section 147 due to manipulation of accounts by Satyam Computer Services Ltd's Chairman. Unexplained advances totaling Rs. 20 crores were added based on forensic reports, with directions to determine the exact amount. Deemed dividend addition under Section 2(22)(e) was deleted. Disallowance under Section 14A was upheld. Interest income was classified as business income. Income from trading in shares was not speculation income. Interest under Section 234B was charged as consequential. The Tribunal dismissed all appeals, affirming the CIT(A)'s directions and upholding the assessment reopening. en-us Fri, 06 Dec 2019 00:00:00 +0530 Mon, 27 Jan 2020 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389615 The Tribunal upheld the reopening of assessment under Section 147 due to manipulation of accounts by Satyam Computer Services Ltd's Chairman. Unexplained advances totaling Rs. 20 crores were added based on forensic reports, with directions to determine the exact amount. Deemed dividend addition under Section 2(22)(e) was deleted. Disallowance under Section 14A was upheld. Interest income was classified as business income. Income from trading in shares was not speculation income. Interest under Section 234B was charged as consequential. The Tribunal dismissed all appeals, affirming the CIT(A)'s directions and upholding the assessment reopening. Case-Laws Income Tax Fri, 06 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389615