https://www.taxtmi.com/caselaws?id=401192 The High Court modified the Tribunal's decision in an appeal concerning the Assessment Year 2007-08, directing the Assessing Officer to reconsider the issue based on prevailing legal guidelines. The Court emphasized interpreting the Tribunal's decision in line with Bombay High Court guidelines and ensuring a fair determination. In another aspect of the case involving a non-banking financial institution's loss declaration, the Tribunal directed the Assessing Officer to provide a detailed explanation for any disallowances, allowing the assessee an opportunity to present its case. The High Court upheld the Tribunal's decision, emphasizing adherence to legal principles for a just resolution. en-us Tue, 10 Nov 2020 00:00:00 +0530 Sat, 28 Nov 2020 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401192 The High Court modified the Tribunal's decision in an appeal concerning the Assessment Year 2007-08, directing the Assessing Officer to reconsider the issue based on prevailing legal guidelines. The Court emphasized interpreting the Tribunal's decision in line with Bombay High Court guidelines and ensuring a fair determination. In another aspect of the case involving a non-banking financial institution's loss declaration, the Tribunal directed the Assessing Officer to provide a detailed explanation for any disallowances, allowing the assessee an opportunity to present its case. The High Court upheld the Tribunal's decision, emphasizing adherence to legal principles for a just resolution. Case-Laws Income Tax Tue, 10 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401192