https://www.taxtmi.com/caselaws?id=66902 Reassessment under section 148 was held not to amount to a mere change of opinion where the return had only been processed under section 143(1)(a) and no earlier opinion had been formed on the interest issue. On the exemption question, interest on securities held by a co-operative bank in compliance with section 24 of the Banking Regulation Act, 1949 was treated as attributable to banking business and eligible for exemption under section 80P(2)(a)(i). The additions were deleted, and the revenue's appeals failed on merits. en-us Mon, 31 Aug 1998 00:00:00 +0530 Tue, 08 Mar 2011 10:50:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66902 Reassessment under section 148 was held not to amount to a mere change of opinion where the return had only been processed under section 143(1)(a) and no earlier opinion had been formed on the interest issue. On the exemption question, interest on securities held by a co-operative bank in compliance with section 24 of the Banking Regulation Act, 1949 was treated as attributable to banking business and eligible for exemption under section 80P(2)(a)(i). The additions were deleted, and the revenue's appeals failed on merits. Case-Laws Income Tax Mon, 31 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66902