https://www.taxtmi.com/caselaws?id=201953 The High Court ruled in favor of the Revenue, confirming the Tribunal's order to disallow the assessee's claim for exemption of the entire income under section 10B in reassessment proceedings. The Court emphasized that reassessment should focus on escaped income and rejected the assessee's expanded claim. The appeal was partially allowed, with the Court upholding the Tribunal's decision only in relation to escaped income. The parties were directed to bear their own costs, concluding the case on the interpretation of provisions under section 80HHC, claim for exemption under section 10B, and the validity of reopening assessments. en-us Mon, 23 Nov 2009 00:00:00 +0530 Sat, 29 Dec 2012 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201953 The High Court ruled in favor of the Revenue, confirming the Tribunal's order to disallow the assessee's claim for exemption of the entire income under section 10B in reassessment proceedings. The Court emphasized that reassessment should focus on escaped income and rejected the assessee's expanded claim. The appeal was partially allowed, with the Court upholding the Tribunal's decision only in relation to escaped income. The parties were directed to bear their own costs, concluding the case on the interpretation of provisions under section 80HHC, claim for exemption under section 10B, and the validity of reopening assessments. Case-Laws Income Tax Mon, 23 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201953