https://www.taxtmi.com/caselaws?id=299625 The appeal was allowed for statistical purposes, with the Tribunal directing the AO to substitute a sum in place of an addition made under section 69C of the Income Tax Act for the assessment year 2001-02. The CIT(A)'s decision to enhance the assessment was upheld, noting that the same source of income was considered, and the argument that a new source of income was taxed lacked merit. The Tribunal clarified the issue of interest deduction, remitted the matter back to the CIT(A) for further action, and emphasized the importance of providing the assessee with an opportunity to address enhancements. en-us Fri, 25 Feb 2011 00:00:00 +0530 Thu, 23 Dec 2021 11:21:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299625 The appeal was allowed for statistical purposes, with the Tribunal directing the AO to substitute a sum in place of an addition made under section 69C of the Income Tax Act for the assessment year 2001-02. The CIT(A)'s decision to enhance the assessment was upheld, noting that the same source of income was considered, and the argument that a new source of income was taxed lacked merit. The Tribunal clarified the issue of interest deduction, remitted the matter back to the CIT(A) for further action, and emphasized the importance of providing the assessee with an opportunity to address enhancements. Case-Laws Income Tax Fri, 25 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299625