https://www.taxtmi.com/caselaws?id=189337 The Tribunal ruled in favor of the assessee, quashing the reassessment order under section 147 as it was deemed a mere change of opinion without fresh material. The Tribunal also decided in favor of the assessee on the computation of book profits under section 115JB, rejecting the AO's adjustments for assets written off and determining the starting point of computation. Additionally, the imposition of interest under section 234D was disallowed due to the refund being granted before the provision's insertion. The Tribunal upheld the deletion of notional expenses for earning dividend income to book profits, as the issue had already been settled in the original assessment. en-us Wed, 31 Mar 2010 00:00:00 +0530 Fri, 06 Jan 2017 13:22:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189337 The Tribunal ruled in favor of the assessee, quashing the reassessment order under section 147 as it was deemed a mere change of opinion without fresh material. The Tribunal also decided in favor of the assessee on the computation of book profits under section 115JB, rejecting the AO's adjustments for assets written off and determining the starting point of computation. Additionally, the imposition of interest under section 234D was disallowed due to the refund being granted before the provision's insertion. The Tribunal upheld the deletion of notional expenses for earning dividend income to book profits, as the issue had already been settled in the original assessment. Case-Laws Income Tax Wed, 31 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189337