https://www.taxtmi.com/caselaws?id=426046 The Appellate Tribunal ITAT Kolkata upheld the decision of the Commissioner of Income Tax (Appeals) in a case involving challenges to the nullification of an assessment under section 147 of the Income Tax Act, 1961, and the deletion of an addition for disallowing preliminary expenses. The Tribunal found that the reopening of the assessment was unjustified as the assessee had disclosed all relevant information, leading to no failure on their part to disclose material facts. Consequently, the Tribunal dismissed the Revenue's appeal, affirming the decisions of the Commissioner of Income Tax (Appeals) on both issues. en-us Tue, 12 Jul 2022 00:00:00 +0530 Sat, 06 Aug 2022 09:29:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426046 The Appellate Tribunal ITAT Kolkata upheld the decision of the Commissioner of Income Tax (Appeals) in a case involving challenges to the nullification of an assessment under section 147 of the Income Tax Act, 1961, and the deletion of an addition for disallowing preliminary expenses. The Tribunal found that the reopening of the assessment was unjustified as the assessee had disclosed all relevant information, leading to no failure on their part to disclose material facts. Consequently, the Tribunal dismissed the Revenue's appeal, affirming the decisions of the Commissioner of Income Tax (Appeals) on both issues. Case-Laws Income Tax Tue, 12 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426046