https://www.taxtmi.com/caselaws?id=215089 The Tribunal held that the reopening of assessments for the years 2000-01 and 2001-02 under Section 147 of the Income Tax Act was invalid due to a mere change of opinion by the Assessing Officer without fresh evidence. The disallowance of bad debts and advances written off was remitted for further examination. Software expenses were deemed capital in nature, and the computation of total turnover for deduction under Section 10A was allowed, reducing it by foreign exchange loss. The Tribunal allowed the assessee's appeals for certain years, partly allowed for one year, and dismissed the revenue's appeal for another year. en-us Fri, 22 Jun 2012 00:00:00 +0530 Mon, 23 Jul 2012 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215089 The Tribunal held that the reopening of assessments for the years 2000-01 and 2001-02 under Section 147 of the Income Tax Act was invalid due to a mere change of opinion by the Assessing Officer without fresh evidence. The disallowance of bad debts and advances written off was remitted for further examination. Software expenses were deemed capital in nature, and the computation of total turnover for deduction under Section 10A was allowed, reducing it by foreign exchange loss. The Tribunal allowed the assessee's appeals for certain years, partly allowed for one year, and dismissed the revenue's appeal for another year. Case-Laws Income Tax Fri, 22 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215089