https://www.taxtmi.com/caselaws?id=346586 The court quashed the notices under Section 147 for the Assessment Years 2000-2001 and 2001-2002, along with the consequent Assessment Orders, citing that the reassessment was based on a change of opinion and lacked valid reasons. The petitioners were deemed entitled to deductions under Section 10B as their activities qualified as "production." The court rejected the argument for an alternate remedy, allowing the challenges within the current proceedings. The orders were set aside, and both petitions were disposed of accordingly. en-us Tue, 13 Jun 2017 00:00:00 +0530 Sat, 19 Aug 2017 10:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346586 The court quashed the notices under Section 147 for the Assessment Years 2000-2001 and 2001-2002, along with the consequent Assessment Orders, citing that the reassessment was based on a change of opinion and lacked valid reasons. The petitioners were deemed entitled to deductions under Section 10B as their activities qualified as "production." The court rejected the argument for an alternate remedy, allowing the challenges within the current proceedings. The orders were set aside, and both petitions were disposed of accordingly. Case-Laws Income Tax Tue, 13 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346586