https://www.taxtmi.com/caselaws?id=291736 The Tribunal set aside the reassessment under Section 147/148 of the Income Tax Act due to incorrect assumptions about the non-filing of the return, invalidating the formation of belief. Consequently, the Tribunal did not address the disallowance of interest expenditure and personal household expenses, nor the levy of interest under sections 234A, 234B, and 234C. The decision was primarily based on procedural grounds, leading to the quashing of the reassessment. en-us Fri, 28 Jun 2019 00:00:00 +0530 Mon, 30 Nov 2020 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291736 The Tribunal set aside the reassessment under Section 147/148 of the Income Tax Act due to incorrect assumptions about the non-filing of the return, invalidating the formation of belief. Consequently, the Tribunal did not address the disallowance of interest expenditure and personal household expenses, nor the levy of interest under sections 234A, 234B, and 234C. The decision was primarily based on procedural grounds, leading to the quashing of the reassessment. Case-Laws Income Tax Fri, 28 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291736