https://www.taxtmi.com/caselaws?id=328145 The Tribunal dismissed the appeal, upholding the reopening of the assessment under Section 147 of the Income Tax Act and the disallowance of the deduction under Section 80-IB. The delay in filing the appeal was condoned due to valid reasons provided by the assessee. However, the Tribunal found the reopening of the assessment to be valid based on the Assessing Officer's belief that income had escaped assessment and the failure of the assessee to disclose all material facts. Additionally, the deduction under Section 80-IB was disallowed as rubber contraceptives were considered to fall under excluded items in the Eleventh Schedule. en-us Wed, 10 Feb 2016 00:00:00 +0530 Fri, 27 May 2016 10:11:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328145 The Tribunal dismissed the appeal, upholding the reopening of the assessment under Section 147 of the Income Tax Act and the disallowance of the deduction under Section 80-IB. The delay in filing the appeal was condoned due to valid reasons provided by the assessee. However, the Tribunal found the reopening of the assessment to be valid based on the Assessing Officer's belief that income had escaped assessment and the failure of the assessee to disclose all material facts. Additionally, the deduction under Section 80-IB was disallowed as rubber contraceptives were considered to fall under excluded items in the Eleventh Schedule. Case-Laws Income Tax Wed, 10 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328145