https://www.taxtmi.com/caselaws?id=407307 The Tribunal partly allowed the appeal by deleting the addition under Section 68 and permitting the set-off of business losses. The reopening of the case under Section 148 and the validity of the assessment order under Section 143(3) were upheld. Penalty proceedings were deemed infructuous, and the AO was instructed to recalculate interest under Sections 234A, 234B, and 234C. en-us Wed, 05 May 2021 00:00:00 +0530 Thu, 06 May 2021 08:41:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407307 The Tribunal partly allowed the appeal by deleting the addition under Section 68 and permitting the set-off of business losses. The reopening of the case under Section 148 and the validity of the assessment order under Section 143(3) were upheld. Penalty proceedings were deemed infructuous, and the AO was instructed to recalculate interest under Sections 234A, 234B, and 234C. Case-Laws Income Tax Wed, 05 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407307