https://www.taxtmi.com/caselaws?id=175114 The case involved a dispute over the validity of re-opening an assessment under section 147(b) of the Income-tax Act, 1961, based on an audit objection regarding a weighted deduction claimed under section 35B. The Appellate Assistant Commissioner and the Tribunal both ruled in favor of the assessee, holding that the audit objection did not constitute valid information for re-assessment. Citing the decision in Indian and Eastern Newspaper Society v. CIT [1979] 119 ITR 996, the Court affirmed the cancellation of the re-assessment, favoring the assessee and denying any costs to the Revenue. en-us Wed, 01 Dec 2004 00:00:00 +0530 Fri, 06 Nov 2015 16:11:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175114 The case involved a dispute over the validity of re-opening an assessment under section 147(b) of the Income-tax Act, 1961, based on an audit objection regarding a weighted deduction claimed under section 35B. The Appellate Assistant Commissioner and the Tribunal both ruled in favor of the assessee, holding that the audit objection did not constitute valid information for re-assessment. Citing the decision in Indian and Eastern Newspaper Society v. CIT [1979] 119 ITR 996, the Court affirmed the cancellation of the re-assessment, favoring the assessee and denying any costs to the Revenue. Case-Laws Income Tax Wed, 01 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175114