https://www.taxtmi.com/caselaws?id=269266 The court dismissed the appeal, upholding the respondent Cooperative Society's entitlement to a deduction under Section 80P(2)(e) of the Income Tax Act, 1961 for ginning and pressing charges. The court found the reopening of proceedings unjustified, emphasizing the need for tangible material to support such actions and the importance of adhering to established practices. Additionally, the court highlighted the necessity for the Assessment Officer to have a genuine belief of income escapement before initiating reassessment proceedings. en-us Tue, 08 Dec 2015 00:00:00 +0530 Fri, 11 Dec 2015 08:23:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269266 The court dismissed the appeal, upholding the respondent Cooperative Society's entitlement to a deduction under Section 80P(2)(e) of the Income Tax Act, 1961 for ginning and pressing charges. The court found the reopening of proceedings unjustified, emphasizing the need for tangible material to support such actions and the importance of adhering to established practices. Additionally, the court highlighted the necessity for the Assessment Officer to have a genuine belief of income escapement before initiating reassessment proceedings. Case-Laws Income Tax Tue, 08 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269266