https://www.taxtmi.com/caselaws?id=252223 The Tribunal invalidated the reassessment proceedings due to non-service of notice under Section 143(2). It upheld the Assessee's deduction claim under Section 10B, deeming the unit a new industrial undertaking eligible for exemption. The Tribunal directed computation of eligible profit under Section 10B as per the prescribed formula. Additionally, it annulled the disallowance under Section 14A read with Rule 8D, emphasizing the necessity for the AO to justify non-acceptance of the Assessee's claim. en-us Fri, 28 Mar 2014 00:00:00 +0530 Wed, 15 Oct 2014 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252223 The Tribunal invalidated the reassessment proceedings due to non-service of notice under Section 143(2). It upheld the Assessee's deduction claim under Section 10B, deeming the unit a new industrial undertaking eligible for exemption. The Tribunal directed computation of eligible profit under Section 10B as per the prescribed formula. Additionally, it annulled the disallowance under Section 14A read with Rule 8D, emphasizing the necessity for the AO to justify non-acceptance of the Assessee's claim. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252223