https://www.taxtmi.com/caselaws?id=9538 The court ruled in favor of the assessee concerning the validity of reopening assessments under sections 147/148 of the Income-tax Act, emphasizing the lack of fresh information for the Assessing Officer to believe income had escaped assessment. However, the court upheld disallowances under sections 40A(5)(c) and 40A(5)(c)(ii) and denied deductions claimed under section 32AB, including the claim of purchase of computers under section 32AB(4)(a). Additionally, the court denied a deduction claim related to the timing of a deposit with IDBI, highlighting the necessity of meeting specified timeframes. en-us Tue, 29 Nov 2005 00:00:00 +0530 Tue, 23 Jun 2009 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9538 The court ruled in favor of the assessee concerning the validity of reopening assessments under sections 147/148 of the Income-tax Act, emphasizing the lack of fresh information for the Assessing Officer to believe income had escaped assessment. However, the court upheld disallowances under sections 40A(5)(c) and 40A(5)(c)(ii) and denied deductions claimed under section 32AB, including the claim of purchase of computers under section 32AB(4)(a). Additionally, the court denied a deduction claim related to the timing of a deposit with IDBI, highlighting the necessity of meeting specified timeframes. Case-Laws Income Tax Tue, 29 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9538