https://www.taxtmi.com/caselaws?id=326185 The Tribunal ruled in favor of the assessee, invalidating the notice issued under Section 148 and subsequent reassessment orders due to the absence of specific allegations in the recorded reasons. Additionally, the Tribunal held that once registration under Section 12A is granted, the Assessing Officer cannot question the exemption under Section 11. Errors were found in invoking Sections 13(1)(c) and 13, assessing income as business income instead of under relevant exemptions, denying depreciation on computer software, disallowing expenses, and charging interest incorrectly. All appeals were allowed, and the proceedings were quashed. en-us Thu, 25 Feb 2016 00:00:00 +0530 Sat, 30 Apr 2016 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326185 The Tribunal ruled in favor of the assessee, invalidating the notice issued under Section 148 and subsequent reassessment orders due to the absence of specific allegations in the recorded reasons. Additionally, the Tribunal held that once registration under Section 12A is granted, the Assessing Officer cannot question the exemption under Section 11. Errors were found in invoking Sections 13(1)(c) and 13, assessing income as business income instead of under relevant exemptions, denying depreciation on computer software, disallowing expenses, and charging interest incorrectly. All appeals were allowed, and the proceedings were quashed. Case-Laws Income Tax Thu, 25 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326185