https://www.taxtmi.com/caselaws?id=426143 The tribunal quashed the assessment due to lack of valid jurisdiction as no income had escaped assessment. The Assessing Officer's reasons for reopening the case were found to be invalid, impacting the decisions on the disallowance of interest paid to NBFCs under Sec.40(a)(ia), addition under Sec.69C for discrepancies in sundry debtors, and disallowance of excess remuneration under Sec.40(b). The tribunal did not address the merits of these disallowances as the assessment was annulled based on jurisdictional grounds. en-us Fri, 05 Aug 2022 00:00:00 +0530 Tue, 09 Aug 2022 08:42:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426143 The tribunal quashed the assessment due to lack of valid jurisdiction as no income had escaped assessment. The Assessing Officer's reasons for reopening the case were found to be invalid, impacting the decisions on the disallowance of interest paid to NBFCs under Sec.40(a)(ia), addition under Sec.69C for discrepancies in sundry debtors, and disallowance of excess remuneration under Sec.40(b). The tribunal did not address the merits of these disallowances as the assessment was annulled based on jurisdictional grounds. Case-Laws Income Tax Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426143