https://www.taxtmi.com/caselaws?id=60892 Reassessment under sections 148 and 149 was treated as valid where the original processing was under section 143(1), no change of opinion issue arose, and the assessee had not fully disclosed material facts such as interest on interest and the correct share of rental income. The reopening was supported by information later obtained by the Assessing Officer showing possible escapement of income. On deduction, only interest payable on capital borrowed for acquisition or construction of house property was held allowable; additional interest arising from default in repayment or delayed payment was not deductible as house property interest or as an annual charge. The appeals therefore failed on both reopening and deduction. en-us Thu, 03 Feb 1994 00:00:00 +0530 Sat, 08 Jan 2011 14:33:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60892 Reassessment under sections 148 and 149 was treated as valid where the original processing was under section 143(1), no change of opinion issue arose, and the assessee had not fully disclosed material facts such as interest on interest and the correct share of rental income. The reopening was supported by information later obtained by the Assessing Officer showing possible escapement of income. On deduction, only interest payable on capital borrowed for acquisition or construction of house property was held allowable; additional interest arising from default in repayment or delayed payment was not deductible as house property interest or as an annual charge. The appeals therefore failed on both reopening and deduction. Case-Laws Income Tax Thu, 03 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60892