https://www.taxtmi.com/caselaws?id=221119 The reassessment for A.Y. 1992-93 under Section 147 of the Income-tax Act was deemed valid by the Tribunal due to unaddressed issues in the original assessment, not constituting a mere change of opinion. The deduction under Section 80-I was reduced by Rs. 3.65 lakhs for excessive claim, a decision upheld by the CIT(Appeals) and the Tribunal. The basis of expense allocation for Section 80-I deduction was found reasonable at 10% for non-publication work and 90% for publication work. The Tribunal's conclusions on expense allocation were upheld, leading to the dismissal of the Tax Appeal. en-us Mon, 09 Jan 2012 00:00:00 +0530 Sat, 23 Feb 2013 07:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221119 The reassessment for A.Y. 1992-93 under Section 147 of the Income-tax Act was deemed valid by the Tribunal due to unaddressed issues in the original assessment, not constituting a mere change of opinion. The deduction under Section 80-I was reduced by Rs. 3.65 lakhs for excessive claim, a decision upheld by the CIT(Appeals) and the Tribunal. The basis of expense allocation for Section 80-I deduction was found reasonable at 10% for non-publication work and 90% for publication work. The Tribunal's conclusions on expense allocation were upheld, leading to the dismissal of the Tax Appeal. Case-Laws Income Tax Mon, 09 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221119