https://www.taxtmi.com/caselaws?id=309515 The Tribunal dismissed the appeal due to inordinate delay in filing, citing lack of sufficient cause for condonation. It upheld the validity of the assessment reopening under section 147 based on new material regarding NPA provision and interest disallowance. The disallowance of interest post-banking license cancellation was affirmed, emphasizing the entity's loss of banking status. The appeal was dismissed primarily on procedural grounds, without delving into the case's substantive merits. en-us Wed, 17 Aug 2022 00:00:00 +0530 Thu, 07 Sep 2023 13:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309515 The Tribunal dismissed the appeal due to inordinate delay in filing, citing lack of sufficient cause for condonation. It upheld the validity of the assessment reopening under section 147 based on new material regarding NPA provision and interest disallowance. The disallowance of interest post-banking license cancellation was affirmed, emphasizing the entity's loss of banking status. The appeal was dismissed primarily on procedural grounds, without delving into the case's substantive merits. Case-Laws Income Tax Wed, 17 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309515