https://www.taxtmi.com/caselaws?id=236645 The High Court set aside the Tribunal's decision on the validity of reassessment notices under Section 147, remanding the case for further consideration. The Tribunal found justification for reopening assessments for the years 1999-2000 and 2000-01 based on income escapement. The claim of deduction under Section 10B for a 100% export-oriented unit was remanded for verification. Service charges related to exports were treated as "income from other sources" due to lack of necessary documentation. The issue of charging interest under Sections 234D and 234B was referred back to the Assessing Officer for examination. The appeals were partly allowed, with directions for reassessment on specific issues. en-us Fri, 28 Sep 2012 00:00:00 +0530 Wed, 04 Sep 2013 08:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236645 The High Court set aside the Tribunal's decision on the validity of reassessment notices under Section 147, remanding the case for further consideration. The Tribunal found justification for reopening assessments for the years 1999-2000 and 2000-01 based on income escapement. The claim of deduction under Section 10B for a 100% export-oriented unit was remanded for verification. Service charges related to exports were treated as "income from other sources" due to lack of necessary documentation. The issue of charging interest under Sections 234D and 234B was referred back to the Assessing Officer for examination. The appeals were partly allowed, with directions for reassessment on specific issues. Case-Laws Income Tax Fri, 28 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236645