https://www.taxtmi.com/caselaws?id=208535 The High Court held that the notice seeking to reopen the assessment for a limited company beyond the prescribed period was invalid as the reason cited, commercial construction exceeding the statutory limit, was introduced later and not applicable during the relevant assessment year. The absence of concealment of material facts further supported quashing the notice. The Court emphasized that the eligibility for deductions under section 80IB(10) was not affected by subsequent amendments as they were not retrospective. The reopening of assessment based on commercial construction exceeding the limit was deemed unjustified, leading to the quashing of the notice. en-us Tue, 10 Jan 2012 00:00:00 +0530 Tue, 04 Sep 2012 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208535 The High Court held that the notice seeking to reopen the assessment for a limited company beyond the prescribed period was invalid as the reason cited, commercial construction exceeding the statutory limit, was introduced later and not applicable during the relevant assessment year. The absence of concealment of material facts further supported quashing the notice. The Court emphasized that the eligibility for deductions under section 80IB(10) was not affected by subsequent amendments as they were not retrospective. The reopening of assessment based on commercial construction exceeding the limit was deemed unjustified, leading to the quashing of the notice. Case-Laws Income Tax Tue, 10 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208535