https://www.taxtmi.com/caselaws?id=254808 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions. The reopening of assessment proceedings under Section 147 was deemed impermissible as it was considered a change of opinion without new tangible material. The addition of Fringe Benefit Tax liability to book profit under Section 115JB was rejected, as the liability was crystallized and not to be included in book profits. Additionally, the disallowance under Section 14A was not added to book profit for Minimum Alternate Tax computation under Section 115JB, as only specific adjustments are permitted. en-us Fri, 19 Dec 2014 00:00:00 +0530 Thu, 01 Jan 2015 09:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254808 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decisions. The reopening of assessment proceedings under Section 147 was deemed impermissible as it was considered a change of opinion without new tangible material. The addition of Fringe Benefit Tax liability to book profit under Section 115JB was rejected, as the liability was crystallized and not to be included in book profits. Additionally, the disallowance under Section 14A was not added to book profit for Minimum Alternate Tax computation under Section 115JB, as only specific adjustments are permitted. Case-Laws Income Tax Fri, 19 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254808