https://www.taxtmi.com/caselaws?id=222062 The ITAT upheld the validity of the re-opening of assessment under section 147 of the Act in a case where the assessing officer disallowed the deduction claimed under section 80HHC due to retrospective amendments. The ITAT directed a re-examination of the denial of deduction on import entitlements (DEPB receipts) in light of the Hon'ble Gujarat High Court ruling that retrospective amendments should not harm any assessee. The ITAT allowed the appeal for statistical purposes, emphasizing the need for a fresh assessment based on the decisions of the higher courts. en-us Fri, 15 Feb 2013 00:00:00 +0530 Thu, 28 Mar 2013 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=222062 The ITAT upheld the validity of the re-opening of assessment under section 147 of the Act in a case where the assessing officer disallowed the deduction claimed under section 80HHC due to retrospective amendments. The ITAT directed a re-examination of the denial of deduction on import entitlements (DEPB receipts) in light of the Hon'ble Gujarat High Court ruling that retrospective amendments should not harm any assessee. The ITAT allowed the appeal for statistical purposes, emphasizing the need for a fresh assessment based on the decisions of the higher courts. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=222062