Sec. 37(1) & 147 of the Income-tax Act, 1961 - Business expenditure – Revenue challenged the order of Tribunal in holding the reassessment proceeding u/s 147 of the Act unsustainable in law. High Court dismissed the appeal of the revenue holding that “as long as certain claim made by the assessee was examined by the AO, whether the AO raised correct queries and came to the correct conclusion or not, in the context of reopening of assessment, would be of no consequence. There is a vital difference between a conclusion of the AO after scrutiny which may appear to the Revenue to be erroneous and a situation where the AO during the scrutiny assessment does not examine a particular claim of the assessee altogether. The later will follow within the purview of reopening of assessment, particularly when the notice is issued within a period of 4 years but the former may not”. SLP of the revenue dismissed. - PR. CIT V/s ZEE MEDIA CORPN. LTD. - [2020] 270 TAXMAN 180 (SC)