https://www.taxtmi.com/caselaws?id=63866 The Tribunal ruled in favor of the assessee, annulling the reassessment made by the ITO under section 147(b) of the Income-tax Act. The Tribunal held that the reopening of the assessment post a binding decision was legally unjustified and contemptuous. It emphasized that relief under section 80MM should be allowed with reference to gross receipts, not net income. The decision highlighted the necessity of following proper legal procedures and respecting binding appellate judgments in tax assessments. en-us Thu, 26 Jun 1986 00:00:00 +0530 Wed, 02 Feb 2011 15:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63866 The Tribunal ruled in favor of the assessee, annulling the reassessment made by the ITO under section 147(b) of the Income-tax Act. The Tribunal held that the reopening of the assessment post a binding decision was legally unjustified and contemptuous. It emphasized that relief under section 80MM should be allowed with reference to gross receipts, not net income. The decision highlighted the necessity of following proper legal procedures and respecting binding appellate judgments in tax assessments. Case-Laws Income Tax Thu, 26 Jun 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63866