https://www.taxtmi.com/caselaws?id=64842 The Tribunal partially allowed the appeals, affirming that the assessee can opt out of Section 10B provisions for specific years within the block period by filing a declaration, even during assessment proceedings. Issues concerning the set-off of losses, depreciation, and inclusion of miscellaneous income and interest were remanded to the AO for further examination, requiring a fresh review with reasonable opportunity for the assessee to present their case. The Tribunal clarified the directory nature of filing declarations, aligning with similar provisions under other sections of the Income-tax Act. en-us Thu, 30 Nov 2006 00:00:00 +0530 Thu, 29 Feb 2024 16:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64842 The Tribunal partially allowed the appeals, affirming that the assessee can opt out of Section 10B provisions for specific years within the block period by filing a declaration, even during assessment proceedings. Issues concerning the set-off of losses, depreciation, and inclusion of miscellaneous income and interest were remanded to the AO for further examination, requiring a fresh review with reasonable opportunity for the assessee to present their case. The Tribunal clarified the directory nature of filing declarations, aligning with similar provisions under other sections of the Income-tax Act. Case-Laws Income Tax Thu, 30 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64842