https://www.taxtmi.com/caselaws?id=202204 The court dismissed the writ petitions challenging the validity of notices under Section 148 of the Income-tax Act for the assessment years 2005-06 and 2006-07. It held that the reopening of assessments based on a subsequent Supreme Court decision was legal. The court ruled that the decision in Liberty India v. CIT, which disallowed deductions on duty drawback under Section 80-IB, constituted valid material for reopening the assessment. The petitioner's arguments based on prior judicial decisions were distinguished, and the court concluded that the reopening was justified under Section 147 of the Income-tax Act. en-us Wed, 21 Jul 2010 00:00:00 +0530 Thu, 27 Dec 2012 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202204 The court dismissed the writ petitions challenging the validity of notices under Section 148 of the Income-tax Act for the assessment years 2005-06 and 2006-07. It held that the reopening of assessments based on a subsequent Supreme Court decision was legal. The court ruled that the decision in Liberty India v. CIT, which disallowed deductions on duty drawback under Section 80-IB, constituted valid material for reopening the assessment. The petitioner's arguments based on prior judicial decisions were distinguished, and the court concluded that the reopening was justified under Section 147 of the Income-tax Act. Case-Laws Income Tax Wed, 21 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202204