https://www.taxtmi.com/caselaws?id=422681 The tribunal allowed the appeal, quashing the reassessment proceedings under sections 147/148 as they were initiated beyond the permissible period and without failure to disclose material facts. Consequently, the addition of prior period expenses to book profits was invalidated. The tribunal did not address the issues of charging interest under sections 234B and 234C or short crediting of taxes due to the quashing of the reassessment proceedings. en-us Mon, 09 May 2022 00:00:00 +0530 Fri, 20 May 2022 09:00:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422681 The tribunal allowed the appeal, quashing the reassessment proceedings under sections 147/148 as they were initiated beyond the permissible period and without failure to disclose material facts. Consequently, the addition of prior period expenses to book profits was invalidated. The tribunal did not address the issues of charging interest under sections 234B and 234C or short crediting of taxes due to the quashing of the reassessment proceedings. Case-Laws Income Tax Mon, 09 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422681