https://www.taxtmi.com/caselaws?id=247477 The court quashed the notice for reopening the assessment under Section 147 of the Income Tax Act, citing that it was not justified as it amounted to a mere change of opinion without tangible material indicating income escapement. The petitioner's eligibility for deduction under Section 80IA(4) was upheld, as the original assessment had thoroughly examined and accepted the claim. The treatment of income received from Gujarat State Road Development Corporation was also deemed appropriate, as it had been clarified and accepted during the original assessment. The petition was allowed, and the court disposed of the matter accordingly. en-us Mon, 05 May 2014 00:00:00 +0530 Tue, 13 May 2014 08:58:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247477 The court quashed the notice for reopening the assessment under Section 147 of the Income Tax Act, citing that it was not justified as it amounted to a mere change of opinion without tangible material indicating income escapement. The petitioner's eligibility for deduction under Section 80IA(4) was upheld, as the original assessment had thoroughly examined and accepted the claim. The treatment of income received from Gujarat State Road Development Corporation was also deemed appropriate, as it had been clarified and accepted during the original assessment. The petition was allowed, and the court disposed of the matter accordingly. Case-Laws Income Tax Mon, 05 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247477