https://www.taxtmi.com/caselaws?id=181613 The Tribunal allowed the cross-objection filed by the assessee, ruling that the reassessment proceedings initiated under section 148 of the Income Tax Act were invalid as they amounted to a change of opinion. Additionally, the Tribunal upheld the deletion of Rs. 1349.99 lakh added by the Assessing Officer on account of prior period expenses, as the expenses were consistently accounted for based on their crystallization method. The Tribunal dismissed the revenue's appeal, affirming the assessee's position on both issues. en-us Wed, 13 Apr 2011 00:00:00 +0530 Wed, 20 Apr 2016 17:28:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181613 The Tribunal allowed the cross-objection filed by the assessee, ruling that the reassessment proceedings initiated under section 148 of the Income Tax Act were invalid as they amounted to a change of opinion. Additionally, the Tribunal upheld the deletion of Rs. 1349.99 lakh added by the Assessing Officer on account of prior period expenses, as the expenses were consistently accounted for based on their crystallization method. The Tribunal dismissed the revenue's appeal, affirming the assessee's position on both issues. Case-Laws Income Tax Wed, 13 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181613