https://www.taxtmi.com/caselaws?id=400809 The Tribunal partly allowed the appeal, upholding the validity of the reassessment proceedings under Section 148 of the Income Tax Act. The challenge to reassessment under Section 153C was rejected as the reopening was based on the assessee's own declaration. The issue of adding Rs. 1 Crore as unexplained income was remanded for reconsideration to the CIT(A) due to a change in the assessee's stance. The Tribunal did not extensively address the liability of interest under Sections 234A and 234B. en-us Fri, 06 Nov 2020 00:00:00 +0530 Thu, 19 Nov 2020 09:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400809 The Tribunal partly allowed the appeal, upholding the validity of the reassessment proceedings under Section 148 of the Income Tax Act. The challenge to reassessment under Section 153C was rejected as the reopening was based on the assessee's own declaration. The issue of adding Rs. 1 Crore as unexplained income was remanded for reconsideration to the CIT(A) due to a change in the assessee's stance. The Tribunal did not extensively address the liability of interest under Sections 234A and 234B. Case-Laws Income Tax Fri, 06 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400809