https://www.taxtmi.com/caselaws?id=221428 The Tribunal upheld the reassessment under section 147, finding it based on the proper interpretation of the law and deleted the reduction made by the Assessing Officer. The Tribunal also made various decisions on issues such as deduction calculations under section 80HHC, treatment of rental income, inclusion of MODVAT credit in closing stock, depreciation rates on specific assets, nature of expenditure, and allocation of expenses for deductions. The Tribunal allowed certain deductions, disallowed others, and deleted penalties imposed under section 271(1)(c) due to a bona fide difference of opinion. en-us Wed, 25 Jan 2012 00:00:00 +0530 Mon, 04 Apr 2016 16:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221428 The Tribunal upheld the reassessment under section 147, finding it based on the proper interpretation of the law and deleted the reduction made by the Assessing Officer. The Tribunal also made various decisions on issues such as deduction calculations under section 80HHC, treatment of rental income, inclusion of MODVAT credit in closing stock, depreciation rates on specific assets, nature of expenditure, and allocation of expenses for deductions. The Tribunal allowed certain deductions, disallowed others, and deleted penalties imposed under section 271(1)(c) due to a bona fide difference of opinion. Case-Laws Income Tax Wed, 25 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221428