https://www.taxtmi.com/caselaws?id=259315 The court quashed the notice under Section 148 of the Income Tax Act for A.Y. 2008-2009 and terminated the reassessment proceedings. It ruled that the conditions for reopening assessment beyond four years were not satisfied as there was no failure to disclose material facts. The court did not opine on the nature of "Software License Fees" as revenue or capital expenditure, leaving the question open. The petitioner's eligibility for deduction under Section 10(B) was upheld, and no costs were awarded. en-us Tue, 07 Apr 2015 00:00:00 +0530 Tue, 03 May 2016 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259315 The court quashed the notice under Section 148 of the Income Tax Act for A.Y. 2008-2009 and terminated the reassessment proceedings. It ruled that the conditions for reopening assessment beyond four years were not satisfied as there was no failure to disclose material facts. The court did not opine on the nature of "Software License Fees" as revenue or capital expenditure, leaving the question open. The petitioner's eligibility for deduction under Section 10(B) was upheld, and no costs were awarded. Case-Laws Income Tax Tue, 07 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259315