https://www.taxtmi.com/caselaws?id=390600 The Tribunal ruled in favor of the assessee on various grounds including the invalidity of reopening under section 147, inapplicability of section 115JB to banking companies, non-addition of provisions for bad debts to book profit, and disallowance under section 14A. The Tribunal also allowed expenses for the increase in paid-up capital and provision for diminution in the value of investments. Penalty proceedings under section 271 were deemed premature. The Tribunal's decisions were guided by established legal principles and precedents, ensuring consistency and adherence to the law. en-us Tue, 03 Sep 2019 00:00:00 +0530 Tue, 07 Jan 2020 07:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390600 The Tribunal ruled in favor of the assessee on various grounds including the invalidity of reopening under section 147, inapplicability of section 115JB to banking companies, non-addition of provisions for bad debts to book profit, and disallowance under section 14A. The Tribunal also allowed expenses for the increase in paid-up capital and provision for diminution in the value of investments. Penalty proceedings under section 271 were deemed premature. The Tribunal's decisions were guided by established legal principles and precedents, ensuring consistency and adherence to the law. Case-Laws Income Tax Tue, 03 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390600