https://www.taxtmi.com/caselaws?id=212816 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to quash the reopening of assessment under Section 148 of the Income Tax Act. The Tribunal held that the AO lacked new material facts to justify the reopening, deeming it a mere change of opinion, which is impermissible. The issues regarding deductions under Sections 80HHC and 80-IA, and the treatment of indirect costs and interest income, were not separately decided due to the quashing of the reopening. en-us Fri, 16 Dec 2011 00:00:00 +0530 Thu, 26 Apr 2012 09:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212816 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to quash the reopening of assessment under Section 148 of the Income Tax Act. The Tribunal held that the AO lacked new material facts to justify the reopening, deeming it a mere change of opinion, which is impermissible. The issues regarding deductions under Sections 80HHC and 80-IA, and the treatment of indirect costs and interest income, were not separately decided due to the quashing of the reopening. Case-Laws Income Tax Fri, 16 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212816