https://www.taxtmi.com/caselaws?id=301868 The Tribunal upheld the CIT(A)'s decisions, ruling that assessments cannot be reopened without fresh incriminating material, allowing business and preliminary expenses, and treating interest income as business income. The Revenue's appeals were partly allowed, with preliminary expenses limited to Rs. 14,87,380. The Tribunal applied the same reasoning for other assessment years, dismissing or partly allowing grounds related to business expenditure and preliminary expenses. en-us Fri, 29 Oct 2021 00:00:00 +0530 Mon, 25 Apr 2022 08:19:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301868 The Tribunal upheld the CIT(A)'s decisions, ruling that assessments cannot be reopened without fresh incriminating material, allowing business and preliminary expenses, and treating interest income as business income. The Revenue's appeals were partly allowed, with preliminary expenses limited to Rs. 14,87,380. The Tribunal applied the same reasoning for other assessment years, dismissing or partly allowing grounds related to business expenditure and preliminary expenses. Case-Laws Income Tax Fri, 29 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301868