https://www.taxtmi.com/caselaws?id=450083 The ITAT Chennai allowed the assessee's appeal regarding addition of income under VDIS 1997. The tribunal found that investments/purchases/expenditure were made in earlier assessment years (1991-92 to 1997-98) rather than financial year 1997-98 relevant to assessment year 1998-99, except for amounts declared under VDIS 97. The addition for assessment year 1998-99 was deleted. However, the tribunal dismissed appeals on house property assessment, directing adoption of municipal valuation by Chennai Corporation for rental value determination, and upheld interest charges under sections 234A, 234B, and 234C. en-us Fri, 23 Feb 2024 00:00:00 +0530 Tue, 27 Feb 2024 08:44:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450083 The ITAT Chennai allowed the assessee's appeal regarding addition of income under VDIS 1997. The tribunal found that investments/purchases/expenditure were made in earlier assessment years (1991-92 to 1997-98) rather than financial year 1997-98 relevant to assessment year 1998-99, except for amounts declared under VDIS 97. The addition for assessment year 1998-99 was deleted. However, the tribunal dismissed appeals on house property assessment, directing adoption of municipal valuation by Chennai Corporation for rental value determination, and upheld interest charges under sections 234A, 234B, and 234C. Case-Laws Income Tax Fri, 23 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450083