https://www.taxtmi.com/caselaws?id=214158 The court held that the reassessment under section 147 of the Income-tax Act was not time-barred due to the suppression of material facts by the assessee, allowing an extended period for reassessment. The eligibility of deductions under sections 80HH and 80-I was scrutinized, with the court emphasizing the need for disclosure of relevant facts. A new contention regarding deduction claim under section 80HH raised during the hearing was not considered as it was not raised in lower authorities. The court directed the assessee to file rectification applications for further assessment consideration based on the outcome. en-us Tue, 14 Dec 2010 00:00:00 +0530 Tue, 19 Jun 2012 08:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214158 The court held that the reassessment under section 147 of the Income-tax Act was not time-barred due to the suppression of material facts by the assessee, allowing an extended period for reassessment. The eligibility of deductions under sections 80HH and 80-I was scrutinized, with the court emphasizing the need for disclosure of relevant facts. A new contention regarding deduction claim under section 80HH raised during the hearing was not considered as it was not raised in lower authorities. The court directed the assessee to file rectification applications for further assessment consideration based on the outcome. Case-Laws Income Tax Tue, 14 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214158