https://www.taxtmi.com/caselaws?id=398223 The appeals of the assessee were allowed as the tribunal upheld the bifurcation of income into property and services, allowing business expenses accordingly. The reassessment proceedings were deemed justified under section 147 due to incorrect income representation. The tribunal emphasized the assessee's right to structure business arrangements beneficially within legal limits, leading to the deletion of the penalty imposed based on disallowed expenses. en-us Mon, 07 Sep 2020 00:00:00 +0530 Thu, 10 Sep 2020 10:14:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398223 The appeals of the assessee were allowed as the tribunal upheld the bifurcation of income into property and services, allowing business expenses accordingly. The reassessment proceedings were deemed justified under section 147 due to incorrect income representation. The tribunal emphasized the assessee's right to structure business arrangements beneficially within legal limits, leading to the deletion of the penalty imposed based on disallowed expenses. Case-Laws Income Tax Mon, 07 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398223