https://www.taxtmi.com/caselaws?id=63350 Reassessment under section 147 was treated as sustainable where the original assessment had not properly examined the relevant deduction interplay and later material supported a belief of escaped income; the assessee's jurisdictional cross-objection was not maintainable because a cross-objection cannot raise an issue not decided by the appellate authority. On deduction computation, the Tribunal followed the principle against double deduction and required section 80HHC profits to be reduced by deductions already allowed under section 80-IB/80-IA. On interest, netting of fixed-deposit interest against interest paid for section 80HHC required factual verification, so the matter was remitted to the Assessing Officer. en-us Fri, 01 Jan 2010 00:00:00 +0530 Sat, 23 Sep 2023 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63350 Reassessment under section 147 was treated as sustainable where the original assessment had not properly examined the relevant deduction interplay and later material supported a belief of escaped income; the assessee's jurisdictional cross-objection was not maintainable because a cross-objection cannot raise an issue not decided by the appellate authority. On deduction computation, the Tribunal followed the principle against double deduction and required section 80HHC profits to be reduced by deductions already allowed under section 80-IB/80-IA. On interest, netting of fixed-deposit interest against interest paid for section 80HHC required factual verification, so the matter was remitted to the Assessing Officer. Case-Laws Income Tax Fri, 01 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63350