https://www.taxtmi.com/caselaws?id=333075 The court quashed the notice issued under section 148 of the Income Tax Act, finding it ill-founded due to an erroneous assumption about the establishment year of the unit. It held that reopening the assessment for the year 2006-07 would amount to a impermissible change of opinion, as the claim for deduction under section 80IB had been validly justified. The court ruled in favor of the petitioner, allowing the deduction for the unit established in 2001-02 and concluding that the reopening of the assessment lacked justification and tangible material. en-us Wed, 14 Sep 2016 00:00:00 +0530 Sat, 01 Oct 2016 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333075 The court quashed the notice issued under section 148 of the Income Tax Act, finding it ill-founded due to an erroneous assumption about the establishment year of the unit. It held that reopening the assessment for the year 2006-07 would amount to a impermissible change of opinion, as the claim for deduction under section 80IB had been validly justified. The court ruled in favor of the petitioner, allowing the deduction for the unit established in 2001-02 and concluding that the reopening of the assessment lacked justification and tangible material. Case-Laws Income Tax Wed, 14 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333075