https://www.taxtmi.com/caselaws?id=394186 The Tribunal upheld the reopening of assessment under section 147, considering income had escaped assessment, particularly compensation treated as interest income. The treatment of compensation as interest income and interest earned under "income from other sources" was upheld. Transfer pricing adjustments regarding OFCD interest and guarantee commission were upheld, disallowance under section 14A was restricted, factoring charges were added under section 40(a)(ia), and penalties under section 271(1)(c) were partly upheld. MAT credit and TDS credit were to be verified and allowed if correct. The Tribunal's decisions were based on legal precedents and factual verifications, partly allowing or dismissing appeals. en-us Tue, 21 Jan 2020 00:00:00 +0530 Fri, 03 Apr 2020 12:59:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394186 The Tribunal upheld the reopening of assessment under section 147, considering income had escaped assessment, particularly compensation treated as interest income. The treatment of compensation as interest income and interest earned under "income from other sources" was upheld. Transfer pricing adjustments regarding OFCD interest and guarantee commission were upheld, disallowance under section 14A was restricted, factoring charges were added under section 40(a)(ia), and penalties under section 271(1)(c) were partly upheld. MAT credit and TDS credit were to be verified and allowed if correct. The Tribunal's decisions were based on legal precedents and factual verifications, partly allowing or dismissing appeals. Case-Laws Income Tax Tue, 21 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394186