https://www.taxtmi.com/caselaws?id=429432 The High Court of Bombay upheld the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal, dismissing the Appeal filed by the Principal Commissioner of Income Tax-13, Mumbai. The re-opening of the assessment under Section 147 was deemed invalid due to lack of fresh material, and the dis-allowance of the compensation claim of Rs. 6,50,00,000/- was overturned as it was supported by factual evidence related to business activities. The court affirmed the lower authorities' decisions, emphasizing the absence of new tangible material for re-opening and the validity of the compensation claim. en-us Fri, 21 Oct 2022 00:00:00 +0530 Mon, 25 Sep 2023 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429432 The High Court of Bombay upheld the decisions of the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal, dismissing the Appeal filed by the Principal Commissioner of Income Tax-13, Mumbai. The re-opening of the assessment under Section 147 was deemed invalid due to lack of fresh material, and the dis-allowance of the compensation claim of Rs. 6,50,00,000/- was overturned as it was supported by factual evidence related to business activities. The court affirmed the lower authorities' decisions, emphasizing the absence of new tangible material for re-opening and the validity of the compensation claim. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429432