https://www.taxtmi.com/caselaws?id=423506 The Tribunal upheld the validity of the reassessment under section 147 of the Act, rejecting the appellant's challenge based on the absence of fresh tangible materials. It allowed the appellant's claim regarding the treatment of interest expenses as revenue expenditure, directing the deletion of the disallowed amount. The appeal was partly allowed by the Tribunal, disagreeing with the CIT(A) and directing the Assessing Officer to delete the additions made towards disallowance of proportionate interest expenses. en-us Thu, 02 Jun 2022 00:00:00 +0530 Tue, 07 Jun 2022 10:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423506 The Tribunal upheld the validity of the reassessment under section 147 of the Act, rejecting the appellant's challenge based on the absence of fresh tangible materials. It allowed the appellant's claim regarding the treatment of interest expenses as revenue expenditure, directing the deletion of the disallowed amount. The appeal was partly allowed by the Tribunal, disagreeing with the CIT(A) and directing the Assessing Officer to delete the additions made towards disallowance of proportionate interest expenses. Case-Laws Income Tax Thu, 02 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423506