https://www.taxtmi.com/caselaws?id=75404 The court upheld the reassessment and restriction of deduction under section 80-IB, emphasizing the Assessing Officer's formation of requisite satisfaction. It also affirmed the cancellation of the deletion of interest charged under section 234B, stating that if reassessment stands, the levy of interest is justified. The judgment stressed the significance of adhering to due procedure in reassessment cases and the authority of settled law in guiding such decisions. Ultimately, the court dismissed the appeal, highlighting the importance of distinguishing between a mere change of opinion and forming requisite satisfaction based on relevant material. en-us Tue, 13 Oct 2009 00:00:00 +0530 Tue, 13 Apr 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75404 The court upheld the reassessment and restriction of deduction under section 80-IB, emphasizing the Assessing Officer's formation of requisite satisfaction. It also affirmed the cancellation of the deletion of interest charged under section 234B, stating that if reassessment stands, the levy of interest is justified. The judgment stressed the significance of adhering to due procedure in reassessment cases and the authority of settled law in guiding such decisions. Ultimately, the court dismissed the appeal, highlighting the importance of distinguishing between a mere change of opinion and forming requisite satisfaction based on relevant material. Case-Laws Income Tax Tue, 13 Oct 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75404