https://www.taxtmi.com/caselaws?id=421504 The Tribunal quashed the reopening of assessments for A.Ys. 2007-08 and 2008-09, holding it as legally invalid due to jurisdictional issues. The Tribunal reiterated that the CIT(A) lacked authority to direct reopening for years not under appeal. Additionally, the Tribunal affirmed the taxability of interest income on an accrual basis per the High Court order, rejecting the lump sum approach. As a result, both appeals of the assessee were allowed, with the Tribunal declining to address other merits. en-us Tue, 22 Mar 2022 00:00:00 +0530 Mon, 25 Apr 2022 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421504 The Tribunal quashed the reopening of assessments for A.Ys. 2007-08 and 2008-09, holding it as legally invalid due to jurisdictional issues. The Tribunal reiterated that the CIT(A) lacked authority to direct reopening for years not under appeal. Additionally, the Tribunal affirmed the taxability of interest income on an accrual basis per the High Court order, rejecting the lump sum approach. As a result, both appeals of the assessee were allowed, with the Tribunal declining to address other merits. Case-Laws Income Tax Tue, 22 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421504