https://www.taxtmi.com/caselaws?id=179582 The Tribunal dismissed the revenue's appeal and the assessee's cross-objections regarding deduction u/s 10A, adjustment in book profit u/s 115JB, excess depreciation claimed, and the validity of notice u/s 148 for reopening assessment. The Tribunal quashed the reassessment for A.Y. 2004-05, citing lack of legal basis for reopening assessment, following the precedent set in the assessee's case for A.Y. 2003-04. The decision was based on the principle that an assessment cannot be reopened merely due to a change of opinion, emphasizing the importance of considering material facts presented during the original assessment. en-us Thu, 08 Aug 2013 00:00:00 +0530 Fri, 04 Mar 2016 16:15:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179582 The Tribunal dismissed the revenue's appeal and the assessee's cross-objections regarding deduction u/s 10A, adjustment in book profit u/s 115JB, excess depreciation claimed, and the validity of notice u/s 148 for reopening assessment. The Tribunal quashed the reassessment for A.Y. 2004-05, citing lack of legal basis for reopening assessment, following the precedent set in the assessee's case for A.Y. 2003-04. The decision was based on the principle that an assessment cannot be reopened merely due to a change of opinion, emphasizing the importance of considering material facts presented during the original assessment. Case-Laws Income Tax Thu, 08 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179582