https://www.taxtmi.com/caselaws?id=339979 The ITAT confirmed the CIT(A)'s orders and dismissed all appeals by the assessee for the relevant assessment years. The reassessment without issuing a statutory notice under section 143(2) was upheld, and the denial of deduction under section 80IB for cash assistance received from Government schemes was maintained. Legal precedents supporting the treatment of DEPB credits as business income were considered but deemed insufficient to demonstrate eligibility for deduction under section 80IB. The appeals were dismissed based on the interpretation of relevant provisions and precedents, leading to the rejection of the assessee's claims. en-us Mon, 30 Jan 2017 00:00:00 +0530 Sat, 11 Mar 2017 07:35:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339979 The ITAT confirmed the CIT(A)'s orders and dismissed all appeals by the assessee for the relevant assessment years. The reassessment without issuing a statutory notice under section 143(2) was upheld, and the denial of deduction under section 80IB for cash assistance received from Government schemes was maintained. Legal precedents supporting the treatment of DEPB credits as business income were considered but deemed insufficient to demonstrate eligibility for deduction under section 80IB. The appeals were dismissed based on the interpretation of relevant provisions and precedents, leading to the rejection of the assessee's claims. Case-Laws Income Tax Mon, 30 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339979