https://www.taxtmi.com/caselaws?id=328928 The Tribunal upheld the validity of the reassessment proceedings under Section 147, rejecting the assessee's argument of "change of opinion." However, on the issue of the deduction under Section 10B, the Tribunal found that the AO had used incorrect figures and remanded the matter back to the AO for recalculating the deduction using the correct formula as per Section 10B(4). The appeal of the assessee was allowed for statistical purposes. en-us Fri, 27 May 2016 00:00:00 +0530 Sat, 18 Jun 2016 08:39:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328928 The Tribunal upheld the validity of the reassessment proceedings under Section 147, rejecting the assessee's argument of "change of opinion." However, on the issue of the deduction under Section 10B, the Tribunal found that the AO had used incorrect figures and remanded the matter back to the AO for recalculating the deduction using the correct formula as per Section 10B(4). The appeal of the assessee was allowed for statistical purposes. Case-Laws Income Tax Fri, 27 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328928