https://www.taxtmi.com/caselaws?id=442929 The High Court found that the Principal Commissioner erred in restricting the assessing authority from investigating the link between expenses and interest income. The Court directed a fresh examination by the assessing authority without being bound by the Commissioner's findings. Consequently, certain findings of the Commissioner's order were set aside, and the matter was remanded for unbiased reconsideration. The orders of the assessing authority and the Appellate Tribunal upholding the Commissioner's decision were also set aside to allow for a fresh assessment. The Court refrained from addressing legal questions due to the directive for a new assessment. en-us Tue, 22 Aug 2023 00:00:00 +0530 Wed, 13 Sep 2023 09:14:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442929 The High Court found that the Principal Commissioner erred in restricting the assessing authority from investigating the link between expenses and interest income. The Court directed a fresh examination by the assessing authority without being bound by the Commissioner's findings. Consequently, certain findings of the Commissioner's order were set aside, and the matter was remanded for unbiased reconsideration. The orders of the assessing authority and the Appellate Tribunal upholding the Commissioner's decision were also set aside to allow for a fresh assessment. The Court refrained from addressing legal questions due to the directive for a new assessment. Case-Laws Income Tax Tue, 22 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442929